NC Register Volume 23 Issue 09 - Office of Administrative Hearings

IN ADDITION
RESOLUTION AUTHORIZING REVISED LOAN GUIDELINES FOR THE
HOME PROTECTION PROGRAM
RESOLUTION 09-5
WHEREAS, the N.C. General Assembly did adopt House Bill 1414 in the 2004 Session and it contained a special provision
directing the N.C. Housing Finance Agency (the “Agency”) to design and implement a Home Protection Pilot Program; and
WHEREAS, the General Assembly did adopt House Bill 2436 in the 2008 Session that removed the pilot status from the
Home Protection Program (the “Program”) and incorporated its authorization in the N.C. General Statutes; and
WHEREAS, the purpose of the Program is to help homeowners who are in danger of losing their homes due to a job loss and
through no fault of their own; and
WHEREAS, the staff of the Agency has conducted extensive research into the appropriate design of the Program, in order to
better assist homeowners through a partnership with local counseling agencies and staff has produced Program procedures and
guidelines; and
WHEREAS, the staff recommends revisions to the Program guidelines, so that the Program can provide assistance that will
increase the likelihood that homeowners who lose their jobs will avoid losing their homes;
NOW, THEREFORE, BE IT RESOLVED THAT:
Section 1. The Board of Directors authorizes the use of a maximum loan amount of $24,000 for long term assistance and a
maximum loan duration of 24 months for long term assistance for eligible borrowers in the Home Protection Program.
Section 2. The Board of Directors authorizes the Executive Director to publish any other necessary procedures that are
required to fully operate the Program.
Section 3. This Resolution supersedes Resolution 05-16.
Section 4. This Resolution was adopted September 25, 2008.
NORTH CAROLINA HOUSING FINANCE AGENCY
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23:09 NORTH CAROLINA REGISTER NOVEMBER 3, 2008
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