- N.C. Foreclosure Prevention Fund - State Home Foreclosure Prevention Project
Assistance for Veterans
Transitioning from military to civilian life can be daunting, particularly if you are struggling financially while trying to begin a new career. If you served in the military and are having trouble making your mortgage payments after being honorably discharged (after Jan. 1, 2008), the N.C. Foreclosure Prevention Fund may be able to help you while you look for work or complete job training.
You may be able to get help in one of three ways:
You don’t need to be behind on your mortgage payments to seek help. To those who qualify, the program offers zero-interest loans up to $36,000 to cover your mortgage and related expenses for up to 36 months while you search for or train for a new job. If you are receiving vocational rehab or VA Employee Services Assistance, you will receive assistance for 36 months unless you find a job sooner.
To be eligible, you must have a Certificate of Release of Discharge from Active Duty (DD214) and have been honorably discharged.
When your application is received and your eligibility is confirmed, the N.C. Housing Finance Agency may place a temporary stay-of-foreclosure for up to 120 days so that the company that owns your mortgage cannot foreclose on your home or take other legal action while your Mortgage Payment Program loan application is under review. If you qualify for the loan, the N.C. Housing Finance Agency will make your mortgage payment directly to your loan provider or bank. At the end of the assistance period, you will resume making your mortgage payment.