The N.C. Housing Finance Agency said Friday that Consumer Credit Counseling Service of Forsyth County and Northwestern Regional Housing Authority of Boone have been recognized for having among the highest loan-approval ratings for the N.C. Home Protection Program.
The program, started in 2004 and financed by the General Assembly, provides zero-percent-interest loans to qualifying
homeowners who have lost their jobs because of the economy.
Five agencies statewide were given the recognition.
The Forsyth County agency had a program approval rate of 54.8 percent for the 2008-09 fiscal year, said Kathy Banks, its counseling director. She said that about 87 percent of the loans were for homeowners in Forsyth.
The rest were for homeowners in Davidson, Davie, Iredell, Rowan, Stokes and Surry counties.
The program is available to homeowners who have been laid off and are looking for another job, or participating in an approved retraining program.
Assistance varies, with a maximum of $24,000 or 24 months of assistance, whichever is less.
Loan repayment is deferred for 15 years, unless the home is sold, refinanced or is no longer the owner's principal residence.
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