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$14,900 Downpayment Assistance for Foreclosures in North Carolina
I just got off the phone with NC Housing Finance Agency (NCHFA) and found out that they are offering up to $14,900 in downpayment assistance and closing costs for the purchase of a foreclosure property.  The assistance is in the form of a 5 year loan given to the borrower at 0% interest.  It does require you to occupy and retain the home for that 5 years.  20% of the loan will be forgiven for each full year the buyer owns and lives in the home.  At the end of the 5 years the buyer must be current on the mortgage to be eligible for loan to be fully forgiven.
When I spoke with the office this morning they had a small amount of funds left due to transactions that did not successfully close.  A qualified NCHFA lender must reserve the funds to ensure that downpayment assistance funds are available at the time you decide to purchase.  These funds are not endless and do not have a guarantee that they are always available.  When they are gone they are gone so contact us today!
According to the NCFHA website the following is required to participate in this program:
Buyer Eligibility: 
Buyer must qualify for a FirstHome Mortgage (determined ... more

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