The amount of foreclosed properties in South Carolina as of Oct 2010 has reached 23 thousand making it among the top states with the highest foreclosure rates in the united kingdom. However, the state's housing agency announced in their website that they're currently not accepting applicants for federal loan customization nor are they maintaining a waiting list with regard to mortgage help. Instead, the South Carolina State Housing Corporation directs delinquent homeowners towards the U. S. Housing and Urban Development. Homeowners could find a HUD-approved counselor to discuss their situation with and stop foreclosure even without assistance from the Corporation.
Simply last August, the Department of Treasury approved the proposed plan of Sc State Housing Finance and Development Authority. The plan was to setup a new program called the SC Homeownership as well as Employment Lending Program, also known as the SOUTH CAROLINA HELP. The SC HELP was sponsored by the Housing Finance Agency Innovation Fund using the endorsement from the HFA Hardest Hit Fund. This program aims to provide subsidies for struggling borrowers and provide incentives to lenders and servicers for every successful mortgage loan modification. This is the first step in the implementation from the said program in South Carolina. The SC State Housing Corporation must develop structured policies and procedures in the implementation of SC HELP prior to the loan modification plan can be launched in the area.
The next step in the realization of the program's mission and goals is setting up an appropriate infrastructure to accommodate South Carolina candidates. The office must hold competent and effective personnel in distributing mortgage help their citizens. As of this time, the SC HELP isn't taking any applications; visit http://www.scmortgagehelp.com/ often for updates about this new program. You may also contact info@SCMortgageHELP.com for inquiries and suggestions.
The Sc State Housing Corporation encourages all delinquent homeowners to find for federal loan modification help at any HUD workplaces immediately. The SC HELP is not available for use presently and the Corporation does not want anyone to wait for its launching because it may be too late. Work things out with your mortgage company or servicer to successfully protect your home through repossession. Although the U. S. Department of Treasury is giving financial help homeowners living in hardest hit areas such as with South Carolina, applicants are flocking virtually everywhere how the government cannot provide help for everyone. Do some thing in preventing foreclosure even without federal help, you will surely find it more fulfilling ultimately.
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