WITN  | Wake County, Triangle  | News, Weather, Sports

NC Lawmakers Move To Stop More Foreclosures

North Carolina legislators have moved to beef up a program to keep the home foreclosure crisis from reaching more deeply into the middle class.

The Senate gave final approval Wednesday to extend a foreclosure prevention program expected to end this fall until mid-2013 and to expand it to all borrowers at risk, not just those with subprime loans. The bill was approved 45-3 and goes to Gov. Beverly Perdue's desk.

Mortgage firms have been required since 2008 to warn homeowners with subprime loans before pursuing a foreclosure in court. The state banking commissioner is also notified and encourages homeowners to get help from a nonprofit housing counselor.

Proceeds from a $75 fee on mortgage services could support counseling and nonprofit legal services.


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
WITN

275 E. Arlington Blvd. Greenville, NC 27858 252-439-7777
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 98010114 - witn.com/a?a=98010114