NC offering forgivable loans to fix Matthew-damaged homes
Posted July 31
Raleigh, N.C. — The North Carolina Housing Finance Agency is offering forgivable loans of up to $40,000 to help people repair homes damaged by Hurricane Matthew.
The hurricane damaged about 35,000 homes in central and eastern North Carolina last October, many of which were in low- and moderate-income neighborhoods, officials said.
As long as an applicant lives in the home, he or she won't have to make any payments on the loan, and $5,000 will be lopped off the balance every year until it is completely forgiven, officials said.
The Housing Finance Agency has $14 million available that will be disbursed on a first-come, first-served basis. People need to apply through local housing agencies.