The N.C. Foreclosure Prevention Fund is offered by the North Carolina Housing Finance Agency, a self-supporting state agency, using funds provided by the U.S. Treasury.

N.C. Foreclosure Prevention Fund Success Stories

After 17 years as a shipping and warehouse supervisor for an electronics manufacturer in Winston-Salem, Paul was laid off in February 2010. He credits early knowledge of the N.C. Foreclosure Prevention Fund with giving him peace of mind in the face of his job loss. He learned about the Fund through a Rapid Response Team led by the N.C. Department of Commerce with assistance from the N.C. Housing Finance Agency. The Rapid Response Team offers early intervention for workers like Paul who are affected by layoffs or closures throughout North Carolina. Paul was approved for assistance from the N.C. Foreclosure Prevention Fund and is now actively seeking employment. The N.C. Housing Finance Agency will use loan funds to pay his mortgage and homeowner’s association dues for up to 12 months, helping him to hold on to his home while he searches for a new job.


Wayne, a successful self-employed Realtor in western North Carolina, also has a retail shop in town managed by his wife.  However, when the recession took hold in the mountains, both endeavors began to suffer. The decline in family income made it difficult for them to continue making payments on their home, which they had owned for four years. That’s when they turned to the N.C. Foreclosure Prevention Fund for help. While most applicants apply for the loan program through local participating credit counseling agencies, Wayne opted to complete the online application and upload the supporting documents.  Within a few weeks, his loan request was approved and a closing date established.  The closing required only minutes, and mortgage payments were soon being sent to the lender.  As the real estate market in the region slowly recovers, Wayne and his wife expect to see their income return to its pre-recession levels.  In the meantime, their home has been saved by the N.C. Foreclosure Prevention Fund until they are able to resume making their mortgage payments.


Martha, a single mother in Hickory, was laid off from her job after 18 years. She began attending Catawba County Community College to retrain for new employment but began falling behind on the mortgage payments for her condo. She applied for assistance from the N.C. Foreclosure Prevention Fund through her local counseling agency and was quickly approved. The Fund will pay her mortgage until she graduates from school, allowing her to get the skills she needs to re-enter the job market so that she can resume making her mortgage payments.