State program helps 2,500 homeowners

A program established last year has enabled more than 2,500 North Carolina homeowners to avoid foreclosure, the N.C. Office of the Commissioner of Banks announced this morning.

"We are thrilled our program has given so many homeowners the tools they need to avoid foreclosure," Mark Pearce, chief deputy commissioner of banks, said in a prepared statement.

The State Home Foreclosure Prevention Projection, announced last November, enables homeowners who are having trouble remaining current on their mortgages to call a toll-free number and receive counseling and legal advise through a network of government and nonprofit agencies. The toll-free number is 866-234-4857.

Foreclosure filings in the state are up 14 percent this year because of the recession but the foreclosure rate still ranks 36th out of the 50 states, according to the state commissioner's office.

The program, created by the General Assembly, began in November to help homeowners with subprime loans. It was expanded in September to include traditional loans.