The N.C. Foreclosure Prevention Fund is offered by the N.C. Housing Finance Agency, a self-supporting state agency, and funded through the U.S. Department of the Treasury's Hardest Hit Fund®. The Fund operates as a separate entity under the Agency's Home Protection Program, which was created by the North Carolina General Assembly in 2004. Services are provided by HUD-approved counseling agencies statewide.
The North Carolina Housing Finance Agency's mission is to create affordable housing opportunities for North Carolinians whose needs are not met by the market. Since its creation in 1973 by the General Assembly, the Agency has financed nearly 231,400 affordable homes and apartments, totaling more than $16 billion.
The Agency provides financing through the sale of tax-exempt bonds and management of federal and state tax credit programs, the federal HOME Program, the state Housing Trust Fund, and other programs.
Using these resources and its own earnings, the Agency offers low-cost mortgages and downpayment assistance for first-time home buyers, finances affordable homes and apartments and finances the development of housing for people with special needs. The Agency also finances the rehabilitation of substandard owner-occupied homes and administers HUD rent assistance contracts for 25,000 privately owned apartments statewide.
Learn more about the N.C. Housing Finance Agency at www.nchfa.com