Foreclosures have slowed in recent years, but many families still struggle to pay their mortgages since the Recession.
A program set up to help North Carolinians pay their mortgage after a layoff or the death of a bread-winner has about a year's worth of money left. Bob Kucab directs the North Carolina Housing Finance Agency, which administers the program with money from the U.S. Treasury's "Hardest Hit" fund.
"We've been operating the North Carolina Foreclosure Prevention Fund since 2010 and we've helped over 20,000 households with their mortgage problems by providing ongoing principal and interest payments while they look for work or while they return to school for additional education."
The program originally was intended to run through 2017. But with the high demand, it will likely tap out a year early. However, Kucab says they've still got enough money to help 3,000 more families, which will exceed their goal.
"We really focus on the number of households that we can assist under this program, but there are other things that we can make available for people. So hope continues to be out there, even after this program concludes."
Kucab says people who have had a change in income should call their mortgage lender or a professional housing counselor if they're having trouble with payments. People can also call 1-888-623-8631.