Small Town

New Montcross Area Chamber member, Stowe Pointe, invites fellow members and friends to a catered lunch, prize giveaways, a ribbon-cutting and tours of the newly decorated Winslow II model on Tuesday, March 4, from 11 AM until 2 PM

(Lennar Homes rendition)

Stowe Pointe is a Lennar Homes community at 405 Stowe Road, which is off South Point Road, just south of South Point High School. Homes are 4 and 5 bedroom, from 3,042 to 3,735 square feet and priced from the $270s.

The Chamber ribbon-cutting ceremony will take place about noon. RSVP is
requested at 704-258-8290. More information on Stowe Pointe is available at www.lennar.com

At the last city council meeting, two local business owners pleaded with the council members for relief from water use restrictions.

Hoagland Landscaping and Southern Roots (the former Low Meadows) expressed concern that the cities and towns of the region had a mish-mash of rules governing what could and could not be done during each particular Water Restriction level.

They reported that trade organizations were working with area governments to consider standardizing the rules across community lines.

We agree with the suggestion and work to bring communities together for comprehensive guidelines regarding water use. The restrictions have created particular economic hardships to the hundreds of landscaping “companies” and nurseries that supply the community. In this instance, the drought is causing a shakeout of the landscapers in particular. The US Small Business Administration (SBA) began offering low-interest loans to businesses affected by the drought sometime last year. The shakeout of businesses that is occuring is a natural process of the market place in two levels. The first level are those businesses started as “sidelines” or supplemental jobs by folks such as firefighters, school teachers, and job-in-betweeners. Mainly folks who cut lawns and provide basic landscaping services. The second level are the true professionals who have made careers out of learning the trade and became proficient to have sustained the ups and downs of the industry.

We feel for both levels of providers. But again, there is temporary relief to help the rough spots. This document/flyer by the SBA could help those professionals over this weather-related hump.

As the rain last night and today remind us, God will provide. His timeframe and ours are not always the same. Balancing a precious resource such as freshwater with community sustainability versus a profit-making venture requires much discussion, debate, and cooperation.

HOPE hotline will connect callers with local non-profits to help people keep their homes

Raleigh –  Help for North Carolinians who are at risk of losing their homes to foreclosure is now just a telephone call away, Attorney General Roy Cooper and the Office of the Commissioner of Banks announced today.

“It’s tragic when families lose their homes, especially when it could be prevented,” Cooper said.  “One toll-free call could give them the advice they need to stop foreclosure.”

North Carolinians can call the HOPE Hotline toll-free at 888-995-HOPE 24 hours a day, seven days a week to receive free counseling on options to avoid foreclosure.  The hotline will connect callers with non-profit housing and credit counselors in their local community who can advise them about options such as modifying their loan, selling or refinancing their home or setting up a repayment plan with their lender.

“Homeowners struggling to pay their mortgage need to know there are resources available to help them avoid foreclosure.  Call the NC HOPE Hotline and you may be able to save your home,” said Deputy Commissioner of Banks Mark Pearce.

While North Carolina has not experienced the wave of foreclosures seen in many other states due to our strong laws against unfair loans, foreclosures are on the rise in the state.  Foreclosure starts were up 9.4 percent in North Carolina in 2007 and are expected to increase by 10 to 20 percent in 2008, according to the Commissioner of Banks’ office.

According to research by Freddie Mac, more than half of all homeowners who experience foreclosure never contact their mortgage company to try to avoid unnecessary foreclosure.  Mortgage servicers and lenders have a strong incentive to help homeowners avoid foreclosure because they stand to lose $40,000 to $50,000 in net value when a typical home loan is foreclosed.  Finding a solution to foreclosure can be in the best interest of both the homeowner and the lender.

Cooper and the Commissioner of Banks have teamed up to provide $300,000 in seed money to reimburse counselors who are able to help prevent unnecessary foreclosures for North Carolinians who call the hotline, with more reimbursement going to counselors who are able to help homeowners keep their homes.  Additional funding from Congress and the General Assembly could expand access to local counselors through the hotline.

Local non-profits will also be able to connect hotline callers with other resources as needed, such as referrals for legal help when there is evidence that the homeowner may have been the victim of predatory or abusive lending practices.   The Attorney General’s Office will be notified when there is a pattern of lending abuses and can take action to enforce North Carolina’s strong laws against predatory lending. 

Counselors can also help connect homeowners who qualify with Federal Housing Administration secure loans.  In some cases, non-profits may be able to purchase a home before it is foreclosed upon and then lease it back to the homeowner, applying their lease payments to the purchase of the home.

The national Hope Hotline is a joint project between NeighborWorks America, a non-profit organization chartered by Congress, and the Homeownership Preservation Foundation, a non-profit organization based in Minnesota.  The Commissioner of Banks and Attorney General Cooper are working together to select and support more than 20 high-quality counseling agencies across the state to accept referrals from the national Hope Hotline.  These local counselors will be able to provide assistance not currently available through the national hotline.

“Foreclosures are hurting families across our state and damaging our neighborhoods and communities,” said Cooper.  “It’s in all of our interest to help homeowners find a way out of foreclosure when possible.”

More information about the hotline and the organizations involved is available at www.ncforeclosurehelp.org.