How the SC Hardest Hit Fund Might help you Avoid Foreclosure

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Horry county had the third highest number of forecloures in South Carolina in July and as a home retention consultant assisting homeowners to keep their homes I see many homeowners who are frozen and shut down when it comes to taking steps to save their home.  Hardships happen and in order to keep your family homes there are steps to take and thankfully resources for SC residents that are available to help.  The Hardest Hit fund in SC administed by SC State Housing was allocated $295 million to assist SC homeowners with monthly payment assistance and direct loans.

Eligible homeowners that are unemployed can have mortgage payments made under the Monthly Payment Assistance program to keep their homes.   This program is capped at $36k and could make the difference in many homeowners situation and help to avoid foreclosure while unemployed and the homeowner is seeking employment.

Direct Loan Assistance is for homeowners who have experienced hardship through no fault of their own and have fallen behind on their payments and overcome the hardship but remains delinquent on their mortgage up to 6 months or more.   These loans are available interest free and are designed to bring the loan current. While there is a lien placed on the property for a period of 5 years it is forgiven after the period and no interest is charged.  This is an excellent opportunity for homeowners that have fallen behind and now able to make mortgage payments.

In addition to these programs there is also assistance for homeowners who are unable to stay in the home and do not qualify for the Direct Loan or Monthly Payment Assistance that have experienced hardships.  Short sales and deed in lieu of foreclosure are options and if you do not qualify for relocation assistance through your lender this program may be able to help.

If you think you need help to avoid foreclosure don’t overlook these programs!  The quickest way to get help is by visiting the SC Mortgage Help Website or calling 855-435-7472.  This program is expected to run through 2017 or funds are exhausted. Don’t delay, get help today! Copyright©2011 Sandra Bundy, Broker-in-Charge, B&P, Inc. Serving the Pee Dee and Grand Strand of South Carolina.

5 Steps to Being Hurricane Ready in Murrells Inlet

As Hurricane Irene intensified today I made sure I knew what plans my friends and family had in place in the event the storm makes a direct track for Murrells Inlet.  One of my least favorite parts about owning property east of Highway 17 in Murrells Inlet is the fact that it is in an evacuation zone should a Hurricane evacuation order be issued for coastal South Carolina.  While it is my hope I or any of my Murrells Inlet neighbors will never have to follow a storm plan it is one of the necessary elements anyone living near the ocean must have in place.

1.  Make plans in advance!  If you do not have an evacuation plan and live in an evacuation zone you need to make one now.  Where will you go and what will you take with you?  Make your plan now and you will be ready when a storm threatens the South Carolina coast.

2. Pay attention to weather updates.  A Hurricane track can and does change often and knowing the current projections for any storm is as important as having a plan of action in the event a storm is going to hit the Murrells Inlet area.

3. In advance of any storm threats make plans for protecting your home.  Having Hurricane shutters or other devices that could help prevent damage in case of strong winds.  Be sure to always cut tree limbs off your roof and your homes exterior that could cause damage during times of heavy winds.

4. Make sure to secure all loose objects in your yard.  Anything you have outside could become a missle in the event of Tropical Storm or Hurricane force winds.  This should be part of your overall Hurricane Plan.  When will you gather them up and where will you store them?

5. Evacuate if ordered by government officials.  Evacuation orders should be followed in the event of any storm and if you are in an evacuation zone know the route you will take to your destination.  If a Hurricane warning is issued you will be notified 36 hours prior to the storm hitting land.  Play it safe and don’t wait!

For further information and tips for creating your storm plans check out the following resources.

Hurricane Tracking Chart

Georgetown County Emergency Operations

Horry County Emergency Operations

South Carolina Emergency Management

The Weather Channel