North Charleston assistance to prevent foreclosures

The economy has strongly affected all cities and residents of the United States, and North Charleston, South Carolina, is no exception. There, housing costs have also skyrocketed, and incomes have decreased, causing significant difficulties for both homeowners and non-homeowners.

According to recent reports, statistics indicate that some areas of North Charleston have been more severely impacted by the affordable housing crisis and have greater needs than other sectors. As a result, evictions are more frequently observed in these areas due to missed payments on mortgage loans or rental agreements.

The social services organization Trident United Way has created a grant program for the most affected people in the city. To this end, it has allocated funds to be distributed to two non-profit organizations to assist the residents and families of North Charleston in acquiring and maintaining affordable housing.

The goal of these funds is for the organizations responsible for the program to provide legal services, case management, or short-term financial assistance so that those who benefit from the measure can prevent evictions and foreclosures that affect them.

Trident United Way recently conducted a study on housing affordability and the income of North Charleston’s population. In its analysis, it observed that the city has one of the highest eviction rates in the country and that its residents have very low incomes, preventing them from paying for their housing on time and promptly, even if they have up to two jobs simultaneously.

The two organizations that will manage these funds and meet the program’s objectives are Origin SC and Charleston Area Urban League. According to the director of the organization promoting the initiative, the sole objective should be to offer financial support to families that are financially stable but need emergency assistance to pay their bills.

Therefore, they can be helped with paying overdue water, electricity, rent, and mortgage bills, closing costs, late payment interest, court costs, etc. All these aids will be aimed at helping families and residents of North Charleston avoid eviction processes and foreclosures, thereby preventing their personal economic situation from worsening and, with it, the city’s affordable housing crisis.

Although the aim is to address the current real estate market problems, the director of Trident United Way suggests that organizations should also provide comprehensive and clear advice to citizens so that the situation does not repeat itself and they can achieve self-sufficiency and better control of their income and expenses.

Available Foreclosures:

North Charleston: 15 homes available.

By Elias DaSilva | October 17, 2024.