NHSSV was incorporated in 1995 as a nonprofit Community Development Organization by a group of local citizens with support from the City of San Jose Department of Housing. NHSSV’s mission is “to promote community revitalization and economic stability by providing responsible homeownership and neighborhood services to low and moderate income families.” Neighborhood Housing Services Silicon promotes resident engagement as the most effective revitalization tool to generate lasting positive impacts that instill a sense of neighborhood ownership in communities across Silicon Valley.
NHSSV is a member of the NeighborWorks America Network, a national affiliation of 235 independent, community-based nonprofit organizations committed to community revitalization. It is the only nonprofit full-service realty in Silicon Valley. It is also certified by the US Department of Treasury as a Community Development Financial Institution (CDFI). NHSSV is the only community-based nonprofit corporation in California approved as a direct seller and servicer by Fannie Mae.
Since 1995, NHSSV’s HomeOwnership Center has educated and counseled over 7,500 prospective homebuyers. In the last 3 years NHSSV has prevented over 600 homes from foreclosure. Since 2001, NHSSV has provided direct loans to 430 low and moderate income homeowners for a total investment of over $125 Million in first and secondary mortgage financing. Over the years, NHSSV has trained over 600 neighborhood leaders to take action on issues impacting their communities. The Organization’s target population is primarily in San Jose; however, our services are delivered throughout Santa Clara County and surrounding communities.
• Homebuyer Education: NHSSV provides ongoing classes in homebuyer education and credit and budget counseling. Prospective homebuyers attend up to ten hours of class to prepare themselves for the purchase of their first home. They learn the real estate and mortgage processes, assessment of credit, budgeting, the roles and responsibilities of real estate agents and loan officers, how to determine affordability, escrow and the closing process, and subordinate financing programs. Each participant learns how to set realistic homeownership goals based on his or her family’s earning power and available homes in the local market.
• Foreclosure Intervention: NHSSV offers foreclosure Intervention education workshops and counseling services for homeowners who are delinquent on their mortgage payments or are in danger of becoming delinquent. Workshops and counseling appointment topics include tips for avoiding foreclosure, communicating with lenders, prioritizing debt, and developing a customized action plan.
• First Mortgage Lending: As a licensed mortgage lender and approved Fannie Mae Seller and Servicer, NHSSV originates and funds first mortgage loans designed to assist low and moderate-income first-time homebuyers thus building family wealth and stability. The Organization has recently launched a major refinance initiative to assist homeowners who are underwater and to lower 1st mortgage costs for borrowers with subordinate financing.
• Down Payment Assistance: NHSSV works with a variety of public jurisdictions, nonprofit corporations, and private-sector financial institutions to provide special secondary mortgage assistance products to maximize borrower’s buying power that promotes growth, preserves homeownership and revitalizes distressed neighborhoods. Some of these programs include CalHome, BEGIN, City of San Jose Welcome Home, and the Housing Trust of Silicon Valley.
• Real Estate Sales: NHSSV is a licensed real estate broker. The Organization’s sales agents assist homebuyers to locate the home on the market that is right for them and close the purchase transaction. NHSSV Agents also specialize in short sale negotiation giving families an alternative to foreclosure. In 2012, NHSSV was approved as a Community Buyer from the National Community Stabilization Trust to acquire REO properties from participating lenders. By partnering with private investors and construction teams, the organization now has a complete system for acquiring, rehabilitating, and selling distressed properties throughout our service area.
• Below Market Rate (BMR) Property Administration: The Organization manages a portfolio of over 1500 BMR units for several local jurisdictions and nonprofits including the Cities of Santa Clara, Morgan Hill, Los Gatos, Burlingame, Los Altos, and South County Housing in Gilroy. NHSSV also partners with local housing developers (market rate and nonprofit), assisting them in the sale of their BMR homes.
• Community Building and Organizing (CB&O): NHSSV promotes resident engagement by sending longstanding and emerging leaders to Community Leadership Institutes sponsored by NeighborWorks America, supporting the Silicon Valley Leadership Group’s Neighborhood Leadership Council, and holding the annual Neighborhood Development Training Conference (NDTC) in partnership with United Neighborhoods of Santa Clara County, the City of San Jose and San Jose State University. The NDTC has become a widely anticipated annual event serving up to 400 neighborhood leaders. Our leaders have worked with NHSSV to developed many community projects, such as the Responsible Landlord Engagement Initiative (RLEI). RLEI has become an important revitalization tool that resident leaders can use to hold private landlords accountable to make basic but sustainable improvements to their neighborhood.