SC State Housing Finance and Development Authority also provides housing choice vouchers

The SC State Housing Finance and Development Authority in Columbia SC is designed for those people who have been affected by the recession in that they suffer from continued unemployment and as a result are unable to pay their current mortgage. Conceived in early 2011, SC Help is a foreclosure program that is backed by the SC State Housing Finance and Development Authority and the U.S. Department of Treasury and has already helped over 5,000 people keep their mortgages and avoid foreclosure and default since its inception.

The SC State Housing Finance and Development Authority claims that families suffer in numerous ways when foreclosure is the only option available to them including stress and the possibility to commit crimes. The SC Help programs is open to homeowners who are faced with underemployment, unemployment, divorce, catastrophic medical expenses, self employed and death of a supporting family member. Eligible homeowners are entitled for reinstatement insures (helps make the loan current by paying the arrears), monthly payment assistance (allows them to receive assistance while they seek employment), and transition assistance (assists homeowners with a short sale when a mortgage cannot be salvaged).

The Housing Choice Voucher Programs is a Federal Government Initiative and is administered by the SC State Housing Finance and Development Authority. Under this program, housing assistance is provided on behalf of the individual, giving participants a chance to rent privately owned homes. Eligibility to this program is determined by the (PHA) Public Housing Program, and is determined by the size of the family and total gross annual income. The Housing Voucher program is administered by the SC State Housing Finance and Development Authority in several counties to include Dorchester, Clarendon, Kershaw, Colleton, Lexington, Lee and Fairfield.

The SC State Housing Finance and Development Authority not only provides assistance to current homeowners, but offers competitive fixed market rates to low to moderate individuals and families. That’s not all, they also offers assistance towards closing costs and down payments based on availability. The application process is rather simple and can be completed on their website.

If any of the programs of the SC State Housing Finance and Development Authority sound interesting to you, give them a call at 803-896-9001 or visit their website to get a detailed list of the specific program.