NC Housing Finance Agency Foreclosure Prevention Fund

NC homeowners who are struggling to make their mortgage payments due to job loss or other no fault, temporary financial hardship can apply for assistance through the Mortgage Payment Program, part of the NC Housing Finance Agency’s Foreclosure Prevention Fund.

As of October 18th, the Mortgage Payment Program is now available in 17 pilot North Carolina counties and will expand statewide on December 1st, 2010. 

NC pilot counties include:  Alexander County, Avery County, Ashe County, Alleghany County, Burke County, Caldwell County, Catawba County, Davie County, Forsythe County, Iredell County, Mitchell County, Stokes County, Surry County, Watauga County, Wilkes County, Yadkin County and Yancey County.

If you are not in one of these counties and need assistance prior to the statewide expansion of the Mortgage Payment Program, the state’s Home Protection Program may be able to help you.

For more information about the Home Protection Program, call the HPP Hotline at 919.877.5660

NC Mortgage Payment Program Eligibility  

You may qualify for the program if you are the property owner of a NC home, live in the home and it’s your primary residence; have lost your job or experienced a reduction in income (no fault of your own); are facing a temporary financial hardship such as a divorce, serious illness or death of a co-signor; have good mortgage payment history prior to your recent unemployment or reduction of income; and you are a legal U.S. resident.

If you qualify, the program offers zero-interest loans up to $24,000 to cover your mortgage and related expenses for up to 24 months. NC Homeowners living in one of the 50 NC counties with the highest unemployment rates will be eligible for extra assistance, up to $36,000 or 36 months of mortgage payments and related expenses.    

NC HUD-approved Counseling Agencies

If you are behind on your mortgage payments and facing possible foreclosure on your home, contact a participating HUD-approved counseling agency near you to apply for the program.

These agencies offer free foreclosure prevention help as well as information about other housing help programs in case you don’t qualify for a loan through the N.C. Foreclosure Prevention Fund.  If you are scheduling an appointment with a counselor, make sure you ask what documents you should bring with you.

For more information about the N.C. Foreclosure Prevention Fund – Mortgage Payment Program, please call 888.623.8631

Charlotte, NC Real Estate Specialist

Leigh Brown has distinguished herself as a leader in the Charlotte, NC real estate market and can assist you with buying a home in the Charlotte area or aggressively market your existing Charlotte, NC home for sale.  Leigh is also a Certified Distressed Property Expert (CDPE) and a NC foreclosure prevention specialist, committed to helping families in financial hardship find options to foreclosure.  Leigh’s got the solution you need!

You can reach Leigh by filling out the online contact form below or give her a call.

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Office: (704) 688-5005
Mobile: (704) 507-5500
Fax: (866) 440-7136
Broker: (704) 688-5000

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Article Sources:
NC Foreclosure Prevention Fund
Home Protection Program