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Home Protection Program

If you have lost your job, the Home Protection Program may be able to help you keep your home.

The Home Protection Program (HPP) helps workers who lose their jobs because of changing economic conditions, such as a plant closing. It can provide a loan to pay your mortgage while you look for a job or train for a new one, and counseling to help you understand your options and plan your next step.

How Does It Work?
If you qualify, you can receive a loan of up to $ 24,000.00 at zero interest. The funds will be used to pay your mortgage and related expenses, such as property insurance, homeowner dues, and property taxes for up to 24 months. No repayment is needed for 15 years, unless your home is sold, refinanced, or is no longer your principal residence.

You can receive help in three ways:

  • One-time assistance to bring your mortgage current
  • Short-term assistance (up to 9 months) while you look for a job
  • Long-term assistance (up to 24 months) while you participate in an approved retraining program.

A participating local housing counseling agency will help you assess your situation and identify ways to improve it, even if you don’t qualify for a loan.

When your completed application is received, the North Carolina Housing Finance Agency will place a temporary stay of foreclosure for up to 120 days. The temporary stay prevents the company that owns your mortgage from foreclosing on your home or taking other legal actions while your loan application is under review.

If you receive a loan, the North Carolina Housing Finance Agency will make your mortgage payments for you, and will pay other mortgage-related bills. These payments will be sent directly to the creditors. When all the loan proceeds have been used to pay obligations on your behalf, you will resume regular mortgage payments on your own.

Am I Eligible?
To be eligible for a HPP loan, you must meet all of the following criteria:

  • have lost your job or experienced more than a 50% reduction in hours/income for at least two months due to changing economic conditions (i.e. through no fault of your own)
  • have a mortgage that is secured by real property
  • had a satisfactory mortgage and installment payment history prior to the job loss
  • be a legal U.S. resident who owns property in North Carolina that is your principal residence

Assistance is available on a first-come, first-serve basis, and until funds are expended.

The Home Protection Program has helped more than 400 families pay their mortgage while seeking jobs or retraining for new ones. In addition, the program has provided financial counseling for more than 4,000 homeowners.

How Do I Apply?
You can apply for HPP assistance through a participating housing counseling agency. The counseling agency will assess your situation and determine if you meet eligibility criteria for HPP assistance. If you do, the counseling agency will help you submit your application to the North Carolina Finance Agency.

Homeowners must provide all necessary information requested with the application, including a narrative that explains the circumstances of your job loss as well as your plan to resume mortgage payments.

View the HPP eligibility requirement, forms and a list of other information needed by the counselor to complete your application.

Please note that the counseling agency’s determination of eligibility for a loan does not guarantee assistance. Successful applicants must also meet HPP Underwriting Guidelines.

The housing counselor will explain these guidelines to you in more detail. The N.C. Housing Finance Agency makes the final loan decision.

For more information about the Home Protection Program, contact Andrea Green at akgreen@nchfa.com or (919) 877-5698 or Rich Lee at rylee@nchfa.com or (919) 877-5688.

       For Your First Home:

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for a 30-year, fixed-rate conventional mortgage with a 90-day lock in.


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