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NC foreclosure prevention program goes national

The National Governors Association is recommending that all states adopt a foreclosure prevention program like the one North Carolina created this summer. It requires a lender to notify the state before foreclosing on a home. Financial counselors paid by the state then help negotiate a payment plan for the homeowner. North Carolina Governor's Spokesman Seth Effron says the program requires more effort of state government, but pays off "because these properties remain on the tax books, people are able to pay their taxes, keep their families in their homes and that way communities are able to stay together." Even though it's a new program in North Carolina, Effron says anecdotal evidence suggests it's working. North Carolina Governor Mike Easley presented the program to President-Elect Obama and the National Governors Association in Philadelphia this week.