Foreclosure Prevention

The N.C. Foreclosure Prevention Fund™ helps North Carolina homeowners who are struggling to make their mortgage payments due to job loss or temporary financial hardship.

For qualified homeowners, the Fund can provide a 0% interest, non-recourse, deferred-payment, subordinate loan that will be forgiven after 10 years. The loans will assist homeowners in all 100 counties who are unemployed, re-employed or are dealing with a program eligible financial hardship. Loan funds can be used to bring past-due mortgages current and/or pay monthly mortgages and mortgage related expenses while the homeowner seeks or trains for a new job. Eligible homeowners can receive up to 36 months of assistance or $36,000.

The N.C. Foreclosure Prevention Fund also can help employed North Carolina homeowners who are struggling to pay their second mortgage because of previous unemployment, a cut in salary, or a temporary financial hardship. Eligible homeowners can reduce their monthly payments to an amount they can afford by refinancing their second mortgage with an interest-free loan up to $30,000

The Fund provides assistance at no cost to you. We offer the Fund in partnership with the N.C. Housing Finance Agency using funds from the U.S. Treasury. CADA serves the following counties: Bertie, Halifax, Hertford, Hyde, Northampton, Tyrrell and Washington.

For more information or to speak with a counselor you may call: 252-539-3975. Additional information can be found at www.NCForeclosurePrevention.gov or call 1.888.623.8631

Second Mortgage Refinance Program (SMRP) The N.C. Foreclosure Prevention Fund provides help for employed North Carolina homeowners who are struggling to pay their second mortgage because of previous unemployment, a cut in salary, or a temporary financial hardship. Eligible homeowners can reduce their monthly payments to an amount they can afford by refinancing their second mortgage with an interest-free loan up to $30,000. The fund provides assistance at no cost to the homeowner.

Making Home Affordable

Need Help With Your Mortgage? CADA serves the following counties: Bertie, Halifax, Hertford, Hyde, Northampton, Tyrrell and Washington. For more information or to speak with a counselor you may call: 252-539-3975.

For More information about the Making Home Affordable Program, visit: www.MakingHomeAffordable.gov or call 1-888-995-HOPE (4673)

The National Foreclosure Mitigation Program

The National Foreclosure Mitigation Program is a result of The Housing and Economic Recovery Act of 2008. CADA will provide foreclosure intervention and loss mitigation counseling assistance to owner-occupants of single-family properties that obtained sub-prime loans, are delinquent on their mortgages, and are at risk of default and foreclosure.

State Home Foreclosure Prevention Program

The State Home Foreclosure Prevention Program is a partnership with the North Carolina Commissioner of Banks that established a network of housing counselors, legal service providers and other community support providers to assist homeowners with subprime loans in working with their mortgage. The primary aim for CADA housing counselors is to help borrowers contact their servicers to negotiate a “workout” plan that will make it possible for the homeowners to save their home and prevent the dislocation associated with foreclosure, and the servicer and the community will avoid the costs of foreclosure on the property.