N.C. Housing Finance Agency Honored

THE N.C. HOUSING FINANCE AGENCY HAS WON ITS SIXTH NATIONAL AWARD FOR HOUSING COUNSELING EFFORTS TO PREVENT FORECLOSURES. THE $1.4 MILLION GRANT FROM THE NATIONAL FORECLOSURE MITIGATION COUNSELING PROGRAM WAS AWARDED THROUGH A COMPETITIVE PROCESS AND BRINGS NORTH CAROLINA’S TOTAL TO NEARLY $10 MILLION. THE AGENCY DISTRIBUTES THE FUNDS TO LOCAL NONPROFIT COUNSELING GROUPS, WHICH PROVIDE FORECLOSURE PREVENTION COUNSELING DIRECTLY TO HOMEOWNERS.

Funds from the earlier grants have provided counseling for more than 30,000 homeowners. Of those who have completed counseling, more than 3,000 are known to have avoided foreclosure. The sixth grant is expected to assist more than 4,000 homeowners.

“Saving homes from foreclosure not only protects working families but it preserves property values throughout the community and contributes to the stability of financial institutions,” says Sam Ewell, chair of the board of the N.C. Housing Finance Agency.

“Our agency is very proud to have gained these funds for North Carolina. With the increasing number of foreclosure prevention scams out there, it’s essential that reputable organizations have the resources to provide real help.”

Approved by Congress in the 2008 Consolidated Appropriations Bill, the National Foreclosure Mitigation Counseling Program is administered through a competitive application process by NeighborWorks® America. NeighborWorks® America is an independent, congressionally chartered nonprofit organization based in Washington, D.C., with a mission to provide access to sustainable homeownership and safe, affordable rental housing.

The N.C. Housing Finance Agency also administers the N.C. Foreclosure Prevention Fund, using funds from the U.S. Department of the Treasury’s Hardest Hit Fund®. The foreclosure prevention loan program helps North Carolina homeowners who are struggling to make mortgage payments due to job loss, reduced income or certain other temporary financial hardships. v