A little bit of good news

WRAL.com reports some good news today on one of the best new state programs to come along in a while:

Raleigh, N.C. — More than 2,000 North Carolina homeowners have avoided foreclosure through the State Home Foreclosure Prevention Project during the last 10 months, officials said Wednesday.

Also, more than 700 homeowners statewide have taken action as a result of the Fight NC Foreclosure campaign launched last month, officials said.

“Foreclosures don’t have to happen,” Mark Pearce, the state’s chief deputy commissioner of banks, said in a statement. “Calling our free hotline may be the difference between a foreclosure and keeping your home.”

Under a state law adopted in late 2008, lenders must provide homeowners and the state banking commissioner 45 days’ notice before filing a foreclosure action. The law also allows the banking commissioner to extend any foreclosure-filing notice period by 30 days.

The state uses that window to negotiate with the homeowner and mortgage holder on modifying loan interest rates and payments so that people can stay in their homes.

Foreclosure filings in North Carolina are up 10.6 percent this year, officials said. According to data from the Mortgage Bankers Association, nearly three-fifths of foreclosures in the state occur on mortgages where homeowners have good credit.

Officials said the State Home Foreclosure Prevention Project has helped prevent 2,040 foreclosures and provided foreclosure prevention and budgeting advice to more than 6,000 homeowners. Officials said avoiding those foreclosures saved the financial system and neighboring property values from losses estimated at $175 million.

By using 34 nonprofit counseling agencies across the state and one national nonprofit phone counseling service, the program has prevented foreclosures in 97 of North Carolina’s 100 counties, officials said.

Fight NC Foreclosure is an expansion of the program that involves a network of state agencies, U.S. Department of Housing and Urban Development-certified counselors, legal service providers and nonprofit organizations. The public awareness campaign highlights a toll-free number, 1-866-234-4857, that homeowners needing free foreclosure assistance can call.”

 

4 Comments

  1. Beatrice Shoffner

    October 4, 2010 at 6:56 pm

    thank you for this on line help very important, I am a widow over 50 and have a mortgage with GMAC their time limit in trying to get mortification takes time, and somegetting all document together can discourage homeowner in single family households. Can you please ask GMAC out of Waterloo, IA whom have customer homeowner help give us time when , we are trying to look for jobs, update resumes to the new textnology , online flash drive, apply on line for jobs instead of paper application. Is there not a GMAC Mortgage we can just go into and ask for help .

  2. t jordan

    October 11, 2010 at 10:02 am

    i have paid 122.000.00 to gmac since1999 and tey want 10.000.00
    for my deed of trust the note started with western fin. and they turned it to gmac and i have had problems with them as soon as theu found out my husband who is a vet went on disability they
    forclosed as of october and will sell my house nov 7 2010 they said they would stop procedure if i gave them 10000.00 how can i do this when he only gets 930.00 a month we never went in front of any notary everything was done at my kitchen tabel i feel this note is more than paid in full and i will not pay them or their lawyer 100000.00 to stop this procedure i dont have it will some help me fight the big giant corporation and help me stop this please i have a lot more to tell but i cant get it in here we have had this house since 1980 with the original price of 39500.00 thank you
    t jordan

  3. t jordan

    October 11, 2010 at 10:04 am

    i have paid 122.000.00 to gmac since1999 and tey want 10.000.00
    for my deed of trust the note started with western fin. and they turned it to gmac and i have had problems with them as soon as theu found out my husband who is a vet went on disability they
    forclosed as of october and will sell my house nov 7 2010 they said they would stop procedure if i gave them 10000.00 how can i do this when he only gets 930.00 a month we never went in front of any notary everything was done at my kitchen tabel i feel this note is more than paid in full and i will not pay them or their lawyer 10000.00 to stop this procedure i dont have it will some help me fight the big giant corporation and help me stop this please i have a lot more to tell but i cant get it in here we have had this house since 1980 with the original price of 39500.00 thank you
    t jordan

  4. Barbara Jackson

    November 5, 2010 at 3:50 pm

    I read all these. Myproblem is BAC they have to many fees, etc.
    and does not know what was promised by the person before them they do not record messages or keep their word and keeps changing never can you talk to the same person. It may be Ariz., texas, INDIA, New York it is like telemarkers and I am paid to date when they returned my payment and said I owed over $2,OOO. AND IT HAD TO BE PAID Now. They are going to foreclose on me Dec.9th ,2010 unless There is some way to stop it.now they want over $3,000. in fees and back payments. I am 78 yrs old. and on SS. An account that my son took all paperwork receipt etc to says I would be up to date when they returned my payment. it is only a balance of a little over 40,000. due. These telmarkers or debt collectors talk rough to you, almost like you owed hundreds of thousands, and it had to be paid.
    Bank of America has gotten to big they forgot it was people like me years ago that thought they were great they treated like you were a person . b. Jackson