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NC-SC homeowners eligible for mortgage assistance

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GREENSBORO, NC (AP) -- More than 50,000 homeowners in the Carolinas could be eligible for a federal program to help people keep their homes despite losing their jobs. The News & Record of Greensboro reports the North Carolina Foreclosure Prevention Fund began taking applications this week.

The South Carolina Housing Authority is still testing its program and could begin taking applications later this month.

The programs are aimed primarily at borrowers in counties with sustained unemployment rates of 12 percent or more. In each state, that is half the counties.

Borrowers in the targeted counties can up to $36,000 through a variety of programs including one that provides direct mortgage payment assistance while the borrower seeks work or gets jobs training.

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Information from: News & Record, http://www.news-record.com

(Copyright 2010 by The Associated Press. All Rights Reserved.)

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