RALEIGH, NC, March 03, 2013 /24-7PressRelease/
-- Triangle Family Services is participating in the North Carolina Attorney General's initiative under the National Mortgage Settlement to assist borrowers who are facing foreclosure. Triangle Family Services was one of 47 that will share $13 million of settlement funds, strengthening our capacity to offer free help to home buyers and owners, especially those facing foreclosure. The funding awards are managed by the N.C. Housing Finance Agency. Triangle Family Services serves Wake, Durham, Orange and Johnston counties.
At no charge to homeowners, Triangle Family Services can offer guidance to borrowers who may be eligible for financial payments under the National Mortgage Settlement, help homeowners work with servicers to seek loan modifications and counsel them on their options to avoid foreclosure.
Triangle Family Services can also help eligible homeowners who have lost their jobs apply for loans from the N.C. Foreclosure Prevention Fund to make their mortgage payments while they look for a job or complete job training. These zero-interest loans are offered by the N.C. Housing Finance Agency using funds from the U.S. Treasury, and are considered satisfied after the homeowner has continued to live in their home for 10 years.
In addition to seeking help from a housing counselor, homeowners facing foreclosure should consider the following tips:
- Don't wait too long. The earlier a homeowner seeks help, the more and better options for saving their home.
- Talk to a legal services attorney if they have already received a foreclosure notice. North Carolina has a network of legal aid attorneys that provide help at low or no cost.
- Homeowners who have already experienced foreclosure may still be eligible for monetary restitution under the National Mortgage Settlement if their loan was originated or serviced by Ally/GMAC, Bank of America, Citi, JP Morgan Chase or Wells Fargo. To learn if they are eligible, homeowners should go to http://www.nationalmortgagesettlement.com.
- Avoid foreclosure prevention companies and foreclosure recovery scams. Homeowners should read and understand the terms of all documents, never appoint a foreclosure prevention company to act on their behalf and get professional advice from an attorney, a real estate professional or a HUD-approved housing counseling agency. Homeowners who believe they were the victim of a foreclosure recovery scam should contact the N.C. Attorney General's office at 1-877-5-NO-SCAM.
For more information or to make an appointment with a counselor, homeowners should contact Triangle Family Services at 919.821.0790 108 or http://www.tfsnc.org
ABOUT TRIANGLE FAMILY SERVICES:
Since 1937, Triangle Family Services (TFS) has focused on helping families and individuals overcome challenges by giving them the tools they need to move away from crisis and into more stable and healthy life situations. The organization's mission is to build a stronger community by strengthening the family, and it helps more than 7,000 families in the Research Triangle Park region in North Carolina every year. It provides family safety, financial stability and mental health services in both English and Spanish. TFS is a United Way of the Greater Triangle "Agency of Excellence," a HUD-approved housing counseling agency and a member of the National Foundation for Credit Counseling. It consistently meets and exceeds the highest program/service delivery standards and is accredited through the Council of Accreditation. For more information, visit https://www.tfsnc.org.
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