State Home Foreclosure Prevention Project Success Stories
Charles and Sandra, from Cumberland County, called the State Home Foreclosure Prevention Project for help with their mortgage after medical costs claimed the bulk of their household income. With no health insurance and significant medical problems, they had quickly fallen behind. Charles and Sandra had previously worked with their lender on a modification, which they could no longer afford. Through the State Home Foreclosure Prevention Project, Charles and Sandra received financial counseling, an extension of time to reach a resolution, and help negotiating with the lender. After several months of negotiation, the lender agreed to a significant interest rate reduction, dropping their monthly payment almost $300 and making it possible for Charles and Sandra to remain in their home.
Ronnie and Donna, a couple from Iredell County, called the State Home Foreclosure Prevention Project for help after a series of health crises for three family members affected their finances. Ronnie and Donna tried getting a modification on their own but became skeptical when their mortgage company pushed them to sign an agreement that didn't reduce their large interest rate. Ronnie and Donna said their lender discouraged using a third party for help, but given the circumstances, they decided they needed it. Through the State Home Foreclosure Prevention Project, the couple benefitted from financial counseling, intervention with the mortgage company, and a significant interest rate reduction, which lowered their monthly payment almost $385 per month. Though still working through health issues, Ronnie and Donna are now able to manage their mortgage payment.