Home / Inside Tract / NC fund helping veterans, homeowners

NC fund helping veterans, homeowners

The North Carolina Foreclosure Prevention Fund has planned activities to reach out to veterans and other homeowners having difficulty making mortgage payments.

The organization will field calls during a live phone bank on WBTV-Channel 3’s morning and evening news on Thursday, Nov. 13. Counselors will answer questions from 6-9 a.m. and 4-7 p.m. about the fund, which helps make mortgage payments for eligible homeowners facing temporary financial difficulty.

Also, in conjunction with Veterans Day, the North Carolina Housing Finance Agency last week issued a statement reminding veterans that it is offering returning veterans special mortgage payment help through the fund while they look for work or train for a new career.

“As we honor veterans on this day, we also want to inform them of benefits that are available for them,” said A. Robert Kucab, executive director of the North Carolina Housing Finance Agency.

“North Carolina has more veterans per capita than any other state,” Kucab said. “We’re excited that our agency has been able to extend maximum benefits of the N.C. Foreclosure Prevention Fund to veterans studying under the GI Bill, as well as to returning veterans who are enrolled in vocational training programs.”

Created to help North Carolina homeowners recover from job loss and other temporary hardships, the N.C. Foreclosure Prevention Fund has made mortgage payments for 17,000 homeowners. Funds are available to assist an additional 4,000 homeowners.

The N.C. Foreclosure Prevention Fund makes mortgage payments of up to $36,000 for up to 36 months while the homeowner looks for work or completes a training program. The effort is funded by the U.S. Department of the Treasury and launched in North Carolina in 2010 due to high unemployment, which continues to exceed the national average in more than 60 percent of North Carolina counties.

The assistance is offered as a zero-interest, deferred loan, with no payments due as long as the homeowner lives in the home. Veterans who study on the GI Bill or participate in a VA-approved vocational training program are eligible for a maximum 36 months of assistance, as long as their mortgage payments exceed 25 percent of their household income.

Veterans and civilians can apply for assistance from the Fund through more than 40 HUD-approved counseling agencies statewide, or online at www.NCForeclosurePrevention.gov. Information is available on the website or by calling (888) 623-8631.

Leave a Reply

Your email address will not be published. Required fields are marked *



%d bloggers like this: