Extend Emergency Foreclosure Program (SB 1216)
Full Session Law This legislation has two major components: (1) it extends the reach of the State Home Foreclosure Prevention Project, and (2) it modifies the points and fees trigger for determining that a mortgage is high-cost. Extending the State Home Foreclosure Prevention Project (SHFPP) Since 2008, the SHFPP has helped over 4,200 homeowners with subprime loans avoid foreclosure in North Carolina, and has allowed more than 10,000 others to meet housing counselors for free advice and assistance. Beginning November, 1, 2010, this legislation extends the program to cover all home loans whose...