The $25 billion State Employees' Credit Union is reporting that almost 500 of its member families have gotten help staying in their homes through the state of North Carolina's Foreclosure Prevention Program.
The FPP offers mortgage payment programs to members who have trouble paying their mortgages due to "no fault" job losses and other temporary economic hardships caused by divorce, serious illness or the death of a loan's co-signer.
For those who qualify, the program offers zero-interest loans for a maximum of $36,000 to cover mortgage and related expenses up to 36 months, the 1.7 million-member SECU said. The program is administered by the North Caroline Housing Finance Agency.
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