Community Action can help avoid foreclosure

From News ReleaseApril 21, 2014 

Johnston-Lee-Harnett Community Action is taking part in North Carolina’s efforts to help homeowners who are facing foreclosure.

The agency is one of 47 that will share $13 million to offer free help to home buyers and owners, especially those facing foreclosure.

At no charge, Johnston-Lee-Harnett Community Action can offer guidance to borrowers who might be eligible for financial payments under the National Mortgage Settlement.

Community Action can also help homeowners who have lost their jobs apply for loans to make their mortgage payments while they look for a job or complete job training. These zero-interest loans are considered satisfied after the homeowner has continued to live in the home for 10 years.

In addition to seeking help from a housing counselor, homeowners facing foreclosure should consider the following tips:

•  Don’t wait too long. The earlier homeowners seek help, the more and better options they have for saving their home. Homeowners should open and respond to all mail from their lenders and from the N.C. Housing Finance Agency.

•  Talk to a legal services attorney if you have already received a foreclosure notice. North Carolina has a network of legal aid attorneys who provide help at low or no cost.

•  Homeowners who have already experienced foreclosure might still be eligible for monetary restitution under the National Mortgage Settlement if their loan was originated or serviced by Ally/GMAC, Bank of America, Citi, JP Morgan Chase or Wells Fargo. To learn if they are eligible, homeowners should go to nationalmortgagesettlement.com.

•  Avoid foreclosure-prevention companies and foreclosure-recovery scams. Homeowners should read and understand the terms of all documents, never appoint a foreclosure-prevention company to act on their behalf and get professional advice from an attorney, a real-estate professional or a HUD-approved housing counseling agency. Homeowners who believe they were a victim of a foreclosure-recovery scam should contact the N.C. Attorney General’s office at 1-877-566-7226.

For more information or to make an appointment with a counselor, homeowners should call Johnston-Lee-Harnett Community Action at 919-934-2145.

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