North Carolina HomeOwners Facing Foreclosure now have real help

More times than I care to admit I receive a call from someone who wants to refinance a mortgage that is either presently delinquent or has recently been delinquent or worse they are facing foreclosure and I am unable to help them. These people are desperate to save their homes and as a result  they make themselves easy victims of a cottage industry that has cropped up in this economic downturn. That industry are people who purport to have “little known tricks” or “secrets” to reducing your principal loan balances etc.  Although there are some legitimate companies that may be able to help most of those that i am aware of are non-profits .

For Profit organizations  more oft than not will  take hundreds of thousands of dollars which would be better used if applied to bringing the mortgage current and then do nothing for the homeowner except give them a temporary sense of relief. Sadly, that relief is soon replaced by grief and remorse when the person stops returning their phone calls and the Sheriff turns up on their doorstep with an order to vacate!

But the story doesn’t have to end that way!  Today the North Carolina Housing Finance Agency released to the public information about the NC Foreclosure Prevention Fund going live in 17 pilot counties and will be  available in all 100 NC counties starting December 1st.  As you all know, foreclosure is a huge issue across the country right now and certainly in North Carolina .

If you know of anyone facing foreclosure, anyone who has recently lost their job, or anyone who is having trouble (or anticipates having trouble)  paying their mortgage, please refer them to the website below.  This program applies to anyone in NC who has a mortgage on their primary residence.  The Fund will offer assistance in helping to pay their mortgage of home owners facing foreclosure.

North Carolina homeowners who are struggling to make their mortgage payments due to job loss or temporary financial hardship. For qualified homeowners, the fund can provide an interest-free loan of up to $36,000 to pay your mortgage and other related expenses for up to 36 months.

Struggling home owners should visit the website below or call the toll-free number to learn more about this program. http://www.ncforeclosureprevention.gov/

MPP information call center (888)623.8631