The North East Community Action Corporation (NECAC) has been awarded a $10,500 grant to help people who are having trouble paying their home loans.
The grant for the Making Homes Affordable program covers Lewis, Lincoln, Macon, Marion, Monroe, Montgomery, Pike, Ralls, Randolph, St. Charles, Shelby, and Warren counties.
The grant is from NeighborWorks America, a public non-profit organization established by Congress in 1978 as the Neighborhood Reinvestment Corporation. It creates opportunities for people to improve their lives and strengthen their communities by providing access to homeownership and to safe and affordable rental housing.
NECAC administers and operates programs for the low-income, elderly, youth, handicapped and disadvantaged through partnerships, contracts and grants with government agencies, private businesses and other non-profit groups. NECAC is one of 19 non-profit Community Action Agencies in Missouri and part of a national network of 980 agencies.
The Bowling Green-based corporation’s Deputy Director for Housing Developments, Carla Potts, said the grant will help the agency work with people who are struggling to pay monthly mortgages.
“Too many people wait until the foreclosure letters are mailed,” Potts said. “You can call now and say ‘I’m in trouble’ and we’ll help. Even if you’re just a month behind on your mortgage, you could qualify.”
People are eligible if they are delinquent or in danger of falling behind on loan payments and if their mortgage was obtained before Jan. 1, 2009.
The Deputy Director added that NECAC will work with lenders on extending loans, reducing the interest rate and even forgiving principal. NECAC will file all of the necessary paperwork to document the hardship. Lenders then will be able to determine which solution will work best
Potts stated her belief that too many people let pride get in the way of assistance.
“You just hope you can get it straightened out,” she mentioned, “You hate to have to ask for help. You just keep thinking that you can do it on your own, and too often you can’t. This is a great opportunity.”
Potts clarified that people do not have to be in foreclosure before assistance is available, adding, “We can help right away – before you reach the edge of the cliff.”
More information about the Making Homes Affordable program is available by calling Potts or Foreclosure Counselor Debbie Smith at 573-324-6622.