Grant Provides Foreclosure Prevention Help for Homeowners Statewide

Raleigh, NC – April 13, 2015 – (RealEstateRama) — The North Carolina Housing Finance Agency has won a $1.5 million grant that will enable 5,000 households statewide to receive foreclosure prevention counseling.

The $1,508,379 award is the second-highest award nationwide from NeighborWorks America under the National Foreclosure Mitigation Counseling (NFMC) Program. It is the ninth NFMC award the North Carolina agency has won.

Previous grants totaling $16 million have enabled the Agency to pay for foreclosure prevention counseling services for more than 46,000 homeowners in North Carolina. The assistance is offered statewide through 27 HUD-approved counseling agencies, and is provided to homeowners at no cost. The local agencies help homeowners determine their best course of action to avoid foreclosure and help them work with their servicers to make their payments more affordable.

Also available to homeowners at no cost is the N.C. Foreclosure Prevention Fund, which makes mortgage payments for up to 36 months for unemployed homeowners while they look for a job or retrain. To date, 19,000 North Carolinians have received assistance. The N.C. Housing Finance Agency received funding for this effort from the U.S. Dept. of the Treasury because of North Carolina’s high unemployment during the recession. Funds are available to assist an additional 2,000 homeowners.

For a list of local counseling agencies offering assistance, homeowners can go to www.ncforeclosureprevention.gov/map_contact_counselor.aspx or call 888-623-8631.

The N.C. Housing Finance Agency, a self-supporting public agency, has financed more than 231,000 affordable homes and apartments statewide since its creation in 1973.

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