Dorothy, a cancer survivor from Johnston County, was referred to SHFPP by her attorney because she’d been offered a “Home Affordable Modification” with a higher payment than her existing one. After losing rental income and spending several months on medical leave, this was not a viable solution. As a result of SHFPP intervention with the servicer, Dorothy received an offer she couldn’t refuse; a reduced payment of nearly $325 per month. The servicer was able to reduce the payment by agreeing to forgive $28,000 of the principal. Dorothy is proud to share her story with others, saying “If it wasn’t for SHFPP, I would have lost my home.”

      Worked directly with SHFPP staff

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Brenda and Calvin, an Alamance County couple, called SHFPP for help after health issues prevented Calvin from keeping his job. Though Brenda still worked for the school system full time, their expenses exceeded their newly reduced income. With the help of SHFPP, Brenda and Calvin received financial counseling, help identifying ways to reduce expenses, a 30 day extension, help negotiating with their mortgage lender, and a loan modification. They were ecstatic to learn that the lender reduced their interest rate by more than half. Calvin is now receiving disability income, and the two are back on track financially. Calvin and Brenda are "grateful for [SHFPP’s] help and are proud to share their success with others."

      Division of Family Service of the Piedmont

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Benjamin and Amanda, from Rowan County, called SHFPP for help after their family business had been severely impacted by the economic downturn.  Living on credit cards, they had gotten in over their heads. With 4 small children and a house sitting on 20 acres of land they'd worked to pay off, they couldn’t imagine losing their home.   In a moment of panic, months before making the call to SHFPP, Benjamin and Amanda refinanced into a high cost adjustable rate loan.  With the help of SHFPP, they received financial counseling, help negotiating with their lender, a 30 day extension, legal review of their loan documents, and ultimately a loan modification.  Benjamin started a new career and is grateful for the more than $1,000 monthly payment reduction.  Amanda is so happy she wants to encourage everyone to call for help. 

      Salisbury CDC

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Octavia, a recently laid off single mom of 5, made a desperate call to SHFPP after falling victim to a foreclosure help scam. After paying $400 to the company Octavia was confident the crisis had been averted, until she received eviction papers. With the help of SHFPP staff, Octavia’s eviction was placed on hold, the foreclosure sale rescinded, and the servicer granted her a partial claim. Octavia’s monthly payment is now below the average rental amount for a family of 6.

      Worked directly with SHFPP & AG staff

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Crystal called SHFPP 3 weeks before her scheduled foreclosure sale. Shortly after she began working with her counselor, Crystal learned that the servicer proceeded with the foreclosure. Through the persistence of the Prosperity and SHFPP staff, Crystal was able to get her eviction stopped and the foreclosure sale rescinded, allowing time for negotiation with the lender. Crystal was ultimately approved for a modification, changing her interest rate from adjustable to fixed and reducing her monthly payment by almost $125 per month. Relieved, Crystal doesn’t have to worry about a future rate adjustment and now has a payment she can manage.

      Prosperity Unlimited, Inc.

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Derek and Paulette called SHFPP for help after a layoff, several months prior, dramatically slashed their monthly income. After an exhaustive search for employment, Derek found a job; however, several months of unemployment income had been insufficient to keep this family of 5 on track financially. Through SHFPP, Derek and Paulette received financial counseling, help negotiating with the lender, a 30 day extension to reach a solution with the lender, and ultimately a loan modification. In July, 2009, after the lender agreed to an almost $300 monthly payment reduction and required no upfront payment, Derek and Paulette gratefully told their counselor “By the grace of God, the home has been saved through the state run program.”

      CCCS of Forsyth County

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Charles and Sandra called SHFPP for help with their mortgage after medical costs claimed the bulk of their household income. With no health insurance and significant medical problems, they quickly fell behind. Charles and Sandra had previously worked with their lender on a modification, which they could no longer afford. Through SHFPP, Charles and Sandra received financial counseling, an extension of time to reach resolution, and help negotiating with the lender. After several months of negotiation, the lender agreed to a 7.25% interest rate reduction, dropping their monthly payment almost $300. Thankful that this is all behind them now, Charles and Sandra credit their success entirely to SHFPP and the Cumberland Community Action Program, Inc.

      Cumberland Community Action Program, Inc.

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Melonee, a working mom from Lincoln County, called SHFPP for help after reaching an impasse with her mortgage company. Through SHFPP, she received financial counseling, help identifying ways to reduce expenses, help negotiating with her lender, and ultimately an affordable loan modification. Melonee was more than pleased with a $500 reduction in her monthly mortgage payment, appreciatively saying “The Office of The Commissioner of Banks really went above and beyond my expectations.” Melonee was happy to share her story, saying she hopes more families will choose to take advantage of this program.

      Alliance Credit Counseling

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Jane and Alfreda, a mother and daughter from Mecklenburg County, called SHFPP for help after spending several exhaustive months trying to reach an agreement with their mortgage lender. Despite their determination, and after enlisting the help of two non-SHFPP-agencies, their efforts were of no avail. Vehemently opposed to suggestions for filing bankruptcy or letting go of their home, Jane and Alfreda heard about SHFPP and hoped for a different outcome. As a result of calling SHFPP, Jane and Alfreda received financial counseling, help negotiating with their lender, legal review of their loan documents, and ultimately a forbearance agreement. Jane and Alfreda are relieved they decided to call SHFPP.

      Alliance Credit Counseling

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Ronnie and Donna, a couple from Iredell County, called SHFPP for help after a series of health crises for 3 members of their family affected their finances. Ronnie and Donna tried getting a modification on their own but became skeptical when their mortgage company pushed them to sign an agreement that didn't reduce their 11.5% interest rate. Additionally, while recovering in the hospital from a stroke, Ronnie received a visit from a mortgage company representative, “[asking him] to sign a bunch of papers." Ronnie and Donna said their lender discouraged using a third party for help, but given the circumstances, they decided they needed it. Through SHFPP, the couple benefitted from financial counseling, intervention with the mortgage company, and a 6.5% interest rate reduction, which lowered their monthly payment almost $385 per month. Ronnie and Donna’s housing counselor said “I know if the [SHFPP Team] hadn't gotten involved, it wouldn't have happened." Though still working through health issues, Ronnie and Donna are grateful for a manageable mortgage payment.

      United Family Services

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Johnnie, a Wake County homeowner, called SHFPP for help with his mortgage after his wife’s disability benefits ended and his work hours were reduced. Their first attempts at a workout with the lender resulted in a forbearance offer that temporarily increased his monthly payments. Disappointed with the less than helpful offer, Johnnie needed help achieving a different outcome. Through SHFPP, Johnnie received financial counseling, help negotiating a realistic offer with his lender, and ultimately a loan modification, giving him a payment he can afford. When asked how he felt about the program, Johnnie said “[The SHFPP Team] helped me out so much. I just wanted to keep my home, and [they] helped me do it.”

      Durham Regional Community Development Group


NC has lowest foreclosure rate in the region

RALEIGH - Governor Bev Perdue and the N.C. Office of the Commissioner of Banks (“NCCOB”) today announced that the State Home Foreclosure Prevention Project (“NC Foreclosure Project”) has helped more than 1,000 North Carolina homeowners avoid foreclosure since the program’s inception in November 2008.  >> READ MORE