American Dream OR American Nightmare?

I love living in North Carolina and working as a Raleigh Realtor. And now more than ever I'm even prouder of my adopted home state...

North Carolina is one of a handful of states fighting hard to help people stay in their homes during these turbulent economic times. They are working to help home owners in trouble by aggressively creating new programs and legislation.

NC is a member of the State Foreclosure Prevention Working Group which was created in 2007. This group was designed to help mortgage groups stay off foreclosures and helps keep people in their homes. It is comprised of attorney generals and state banking regulators from across the country.

NC has already passed legislation to curtail abusive lending practices by requiring lenders educate borrowers who may still want an ARM loan and disclose to them their repayment schedule including all the related costs such as property taxes and insurance. Lenders are now required to verify income/employment. Lenders today are prohibited from driving borrowers to higher cost loans.

Home ownership is still the American Dream and now North Carolina is working hard to ensure it doesn't become the American Nightmare.

P.S - forgot to remind folks about where to go if they do need immediate help;