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The not-for-profit North East Community Action Corporation (NECAC) has been awarded additional funding to help people facing foreclosure.
NECAC is a 12-county area not-for-profit social service, community health and public housing Community Action Agency.
NECAC contracts with federal, state and local governments, private businesses and other not-for profit organizations to operate and administer self-sufficiency service programs for the low-income, elderly, youth, disabled and disadvantaged population.
The agency’s central administration offices are located in Bowling Green, with NECAC Service Centers operated in each county.
The agency has been awarded a $34,920 National Foreclosure Mitigation Counseling program grant and $10,400 in funding from the Making Home Affordable program, both through NeighborWorks America.
NeighborWorks is a national leader in affordable housing and community-focused programs and services that are delivered through non-profit organizations. NECAC has been a NeighborWorks partner since 2004.
“We are pleased and excited about being awarded this additional funding,” said NECAC president and chief executive officer Don Patrick. “This money will go a long way toward helping more families in Northeast Missouri stay in their homes. I’m proud of the effort put forward by NECAC Deputy Director for Housing Developments Carla Potts to obtain these two grants.”
Potts said that though the foreclosure crisis isn’t as widespread as it was two years ago, it still is a problem.
“Many people are just a job loss away from losing their homes,” she said. “The unemployment rate is still quite high in Northeast Missouri. When that job loss happens, it is often accompanied by a foreclosure. NECAC can step in and help clients before they lose their homes.”
NECAC works one-on-one with people facing foreclosure. The agency negotiates with mortgage servers on behalf of clients. The program isn’t for everyone, and NECAC can’t help in every circumstance. However, the agency has a success rate of more than 70 percent in keeping people in their homes.
More than 1.5 million families have been helped by the National Foreclosure Mitigation Counseling program, and NeighborWorks expects 193,000 families will receive assistance this year. The money pays for counseling that helps families through the process.
The Making Home Affordable program began in 2009 and has helped more than one million families nationwide.
The program helps clients with second liens and “underwater” mortgages. It also deals with those seeking a short sale or deed-in-lieu-of-foreclosure.
There are no income guidelines for the programs. People who are interested should call the NECAC Housing Developments Department at 573-324-6622 or fill out an application at one of the agency’s 12 county service centers located in Canton, Troy, Macon, Hannibal, Paris, Montgomery City, Bowling Green, New London, Moberly, St. Charles, Shelbyville or Warrenton.