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Stories - On Track Financial

ADVANCING THE COMMON GOOD

On Track Financial

Individuals in financial crisis often need more than budget or credit counseling – they require financial support that will enable them to pursue training and education to transform their lives and create a better future. Recently, two Haywood County mothers struggling to stay afloat in our uncertain economy became clients of OnTrack WNC to do just that.

One woman was laid off with no employment options other than low-paying jobs that were not covering her living expenses. At times, she was forced to make the difficult choice of paying her mortgage or buying groceries and medication. The other woman, a care giver to her elderly mother, struggled to find work because her small unemployment check didn’t meet her monthly financial obligations. Both women suffered from the intense stress financial hardship causes as they tried to meet their families’ basic expenses.

Imagine the relief and hope they felt when they were approved for assistance from the NC Foreclosure Prevention Loan Fund available through OnTrack WNC. The assistance, which is an interest-free loan through the North Carolina Housing Finance Agency (NCHFA), makes monthly mortgage payments for qualified homeowners for up to 36 months and $36,000. Now, both women are working their way back to self-sufficiency by retraining for new careers. Without the stress of worrying about their mortgage payments, these women are moving forward gaining knowledge in viable fields: one is retraining for accounting work and the other is enrolled in a local nursing school program.

OnTrack Financial Education & Counseling’s Foreclosure Prevention Loan Fund program’s mortgage assistance to homeowners in the organization’s 18-county service region totaled $10.8 million. In Western NC alone, the statewide program managed by OnTrack WNC has enabled 542 families to keep their homes since it began on December 1, 2010.

If you or someone you know is struggling with temporary financial hardship, such as unemployment, call OnTrack WNC (1.800.737.5485) to schedule a FREE appointment!  Thanks to support from United Way of Haywood County, OnTrack WNC provides local counseling twice a month.  More information is available at www.ontrackwnc.org .