Partnership with Wells Fargo to Rehabilitate Vacant, Foreclosed Home

We partnered with volunteers from Wells Fargo from March 25th through March 29th to rehabilitate a vacant, foreclosed home through our Real Estate Owned (REO) program.  This home was donated to Rebuilding Together Twin Cities.  After the renovation project is complete, this home will be placed for sale and available to low to moderate-income individuals and families.   The proceeds from this sale will be invested back into our programs to help more low-income homeowners live in safe and healthy homes.

Thank you to Wells Fargo for volunteering to help rehabilitate this home!  Through this partnership, we are able to help stabilize neighborhoods that have been hit by the foreclosure crisis, enable low and moderate families to purchase safe and affordable homes, and preserve affordable homeownership for existing homeowners in need.

More about the Real Estate Owned Program:

Through our Real Estate Owned (REO) program, Rebuilding Together Twin Cities’ volunteers transform vacant foreclosed homes into safe, healthy and affordable housing for new homeowners.  Rebuilding Together Twin Cities works with banks that have an inventory of foreclosed homes and would like to return them to productive use to select a home for renovation and resale.  Once a home has been selected, we reach out to community and neighborhood partners and to larger community organizations that work with first-time homebuyers, such as the Minnesota Homeownership Center and area NeighborWorks affiliates, to make them aware of the opportunity and ask them to refer potential buyers.  After the repairs and improvements are complete, we work with a REALTOR® to market and sell the property.  To be eligible to purchase one of these rehabilitated properties, the buyer’s maximum household income must be under 120% of the area median income or less and the buyer must complete a homebuyer education class.  The buyer also must live in the home; it cannot be sold to an investor.  Proceeds from the sale of these properties are invested back into Rebuilding Together Twin Cities programs that help preserve affordable homeownership opportunities for low-income homeowners and preserve neighborhoods throughout the Twin Cities.

Rebuilding Together Receives Donation through Minneapolis Regional Chamber of Commerce at Minnesota Keystone Award Program

36 years ago, a uniquely Minnesotan tradition called the Keystone Program was started to promote, recognize and support the hundreds of Minnesota companies, their thousands of volunteers and the millions of dollars they contribute each year to our community.

Rebuilding Together Twin Cities wants to congratulate the 2012 Minnesota Keystone Program Honored Company Award winners: KTTC Rochester, Coughlan Companies, and one of our valued partners, Wells Fargo, for their long standing commitment to community giving here in Minnesota.

We also want to thank the Minneapolis Regional Chamber of Commerce for organizing the event, which included a drawing for $2500 in donations contributed by the hundreds of community members in attendance. That drawing was generously awarded to one of the many deserving non-profits in attendance, which happened to be us!

Thanks to the Chamber and the members of our community. The donation we received will go to support home repairs and restorations for low income homeowners here in the Twin Cities.

Thanks To….

St. Kate’s Occupational Therapy students – Helped with Safe at Home previews and projects throughout the month.

Volunteers who helped wrap gifts at the HGTV Holiday House – Special thanks to HGTV for providing this fantastic opportunity and to MidCountry Bank, Wells Fargo, Dunwoody College of Technology, Constance Free Church, and Coldwell Banker Burnet for helping recruit volunteers.

Journeymen Volunteers – Made safety and accessibility modifications for a St. Paul homeowner on November 17th.

Thanks To….

City Church volunteers who came out on September 22nd to make energy efficiency improvements for homeowners in South Minneapolis.

Wells Fargo volunteers who came out on October 3rd to help three Twin Cities families.

St. Kate’s Occupational Therapy students who volunteered their time to help us with assessments and previews for our Safe at Home program.

Journeymen Volunteers who joined us on September 27th to learn more about some of the tasks we complete through our Safe at Home program.