Financial Counseling OnTrack Financial Education and Counseling

Home Protection Program

If you are a NC homeowner who has been laid off or experienced reduction in income due to the economic downturn, the Home Protection Program may be able to help you. This state sponsored loan program provides funds to cover your mortgage payment or prevent mortgage delinquency foreclosure while you are retraining for a new career.

Home Protection Program: FREE

The Home Protection Program offers eligible home-owners a 0% interest, deferred payment loan against the equity in their home. The funds can be structured in 3 different ways, all with a 15-year repayment period.

  • One-time Assistance—to bring you current if you’re behind on your payments.
  • Short-term Assistance—to pay the mortgage during a job search, maximum duration of 12 months
  • Long-term Assistance—to pay the mortgage while you retrain for a new career, maximum duration of 24 months.

The Home Protection Program can help NC home-owners facing foreclosure by:

  • Paying their mortgage for up to 24 months
  • Working with unemployment, TAA, TRA & WIA benefits
  • Repaying late payments & fees

The Home Protection Program is just one of the ways OnTrack’s housing counselors can help you fight foreclosure; it may be determined that other programs better suit your personal financial situation. If you meet the eligibility criteria and choose the Home Protection Program, OnTrack’s HPP coordinator will guide and assist you with the entire process including:

  • Acting as your main contact;
  • Evaluating your information to determine if you’re eligible for the program;
  • Helping you create a compelling application;
  • Providing mortgage delinquency / default and financial counseling;
  • Reviewing your credit report, compiling, and submitting the application;
  • Advocating for you, once your application is submitted;
  • Facilitating your loan closing and ongoing counseling.

Call our office at 255-5166 or 1-800-737-5485 to request a Home Protection Program appointment.  You can also visit the NCHFA’s website to learn more.

"Recently laid off from my long-term job, I had trouble finding similar work.  OnTrack was helpful in getting me this loan to cover my mortgage while I study a new trade.  I was relieved to discover help available for people in my situation.  It sure feels good to have some of the pressure off."

- Randy Laws, Proud Homeowner & Home Protection Pilot Program Loan Client

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