The North Carolina Association of Realtors (NCAR) has allocated $50,000 to counseling agencies across the state to help homeowners in danger of foreclosure.
Through a grant from the National Association of Realtors, NCAR has awarded five $10,000 fellowships to five counseling agencies serving a total of 46 counties across the state. According to NCAR, there were 53,241 foreclosure filings in North Carolina last year.
‘Every day, Realtors help people to achieve the American dream of homeownership,’ says Lou Baldwin, 2012 NCAR president. ‘When times are tough, as they have been during this economic downturn in our state and nation, Realtors want to help people to hold onto that American dream.’
NCAR's allocation stands in contrast to last week's news that North Carolina's legislature was seeking to divert its direct payment funds from the National Mortgage Settlement away from its intended target of distressed homeowner assistance and into non-housing endeavors. The proposed budget put forth by the state's House of Representatives would spend $3 million of North Carolina's direct payment funds on a police crime lab building, $6 million in public education funding and $10 million into the general budget fund.