The North Carolina Housing Finance Agency administers the Home Protection Program that may be able to provide a bridge loan if you have lost your job due to changes in the economy.  Participating counseling agencies will help determine if you are eligible for assistance, help you apply, and may be able to secure a stay-of-foreclosure while your application is being reviewed.

The Agency also supports local counseling agencies that can help regardless of the reason for foreclosure.  They can work with your mortgage company at no cost on a possible repayment plan or loan modification. 

The North Carolina Office of the Commissioner of Banks reviews sub-prime loans that closed in 2005, 2006 and 2007.  It connects homeowners facing foreclosure with local counselors that may be able to help you renegotiate the terms of your loan or get legal assistance.

If you're having trouble paying your mortgage, the North Carolina Housing Finance Agency recommends the following:

• Talk with your mortgage company.  When homes go into foreclosure, mortgage companies lose money.  They can sometimes offer ways to help you.
  
  
• Open all mail from your mortgage company.  The notices may offer good information to help you avoid foreclosure, or may notify you of pending legal action
  
  
• Avoid companies that offer help for a fee.  You don't need to pay for help.
  
  
• Beware of scams.  If someone claims they can stop your foreclosure immediately if you sign a document appointing them to act on your behalf, you may be signing over the title to your property.
  
  
• Contact the Office of the Commissioner of Banks if you believe you have been the victim of predatory lending.

On December 15, 2008, the Catawba County Board of Commissioners approved the County's portion of funding, $8460.20, for additional staff for the Western Piedmont Council of Government (WPCOG) to provide foreclosure counseling and assistance. Other local governments in Catawba, Alexander, Burke and Caldwell Counties will contribute a share of the cost for the additional WPCOG staff.

For more information, visit The North Carolina Housing Finance Agency web site or www.ncforeclosurehelp.org.  You may also call the local counseling agency, a part of the Western Piedmont Council of Governments, at 828-485-4226.