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S.C. Help program spares 9,600 homeowners from foreclosure

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Staff Report
colanews@scbiznews.com
Published Aug. 28, 2015

The S.C. Homeownership and Employment Lending Program, which provides mortgage-payment assistance to homeowners falling behind due to circumstances beyond their control, has released its total funding results through June 2015.

The foreclosure-prevention program has approved and funded 9,611 eligible South Carolina homeowners since 2011, the agency said. Additionally, it has dispersed a total of more than $144 million and committed additional funds totaling nearly $26.5 million.

“Though unemployment and underemployment numbers are at lower levels than in recent years, there are still families facing the ramifications of losing jobs in recent years and using savings to stay afloat,” said S.C. Housing executive director Valarie Williams. “Families keeping their homes is good for all South Carolinians as it keeps our state’s neighborhoods and property values intact.”

S.C. HELP, initiated through funding by the U.S. Treasury Department and a program of S.C. Housing, also reported that more than 98% of assisted homeowners have continued to avoid foreclosure and remain in their homes.

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