Rebuilding Together, a non-profit organization was recently awarded the 2012 Excellence in Community Service Award as recognition of its work towards providing free home repairs and rehabilitation services to families with low income, veterans, disabled and the elderly.
The award was given by the Financial Services Roundtable during the Democratic National Convention in Charlotte, North Carolina, a press release stated.
"Rebuilding Together is an organization that works to help low-income homeowners who need a little help to get back on their feet," Financial Services Roundtable CEO Steve Bartlett said. "This repair and rehabilitation work that is done by volunteers and skilled trade professionals, is exactly what we need to make a difference in our communities."
Rebuilding Together had earlier collaborated with financial service provider Wells Fargo to help communities convert Real Estate Owned properties into affordable homes through a new program, wherein Wells Fargo donated foreclosed homes to Rebuilding Together affiliates in Baltimore, Los Angeles, Oakland, Philadelphia, Providence, St. Paul (Twin Cities), Tampa, and Washington, D.C.
Each affiliate renovated the REO and enlisted the help of a real estate agent to sell the property to a buyer that is between 80-120 percent of the area median income.
“We are so grateful to Wells Fargo for helping Rebuilding Together establish the REO program as a way to transform REO properties back toward viable homes in stable communities, while helping low- and moderate-income families obtain safe, healthy and affordable housing," Gary A. Officer, President and CEO of Rebuilding Together said in a statement.
It is estimated that in 2011 several housing programs of the Wells Fargo Housing Foundation delivered close to $23.4 million, 697 discounted and 1245 donated properties to support affordable housing in local communities.
