Thousands of people have gotten help preventing foreclosure thanks to a state program in its first year.
The N.C. Office of the Commissioner of Banks, NCCOB, said Monday, the program saved 2,500 owners from losing their homes, and 5,000 other homeowners have gotten free advice and assistance from non-profit housing counselors in the year since the program started. The NCCOB estimated that avoiding foreclosures on these homes has prevented property value declines and financial system losses of about $218 million. Foreclosure filings in North Carolina are up this year from job loss and hard economic times, but NC has one of the lowest rates in the country, according to Realty Trac.
Homeowners who would like help from the State Housing Foreclosure Protection Program can receive it free over the phone by calling 1-866-234-4857. In addition, homeowners can meet with a local counselor directly. A full list of counselors and more information can be found at www.fightncforeclosure.org.