Your source for the information you need to protect your business, your clients, and your industry

Welcome to a special REALTOR® Advocate. While we have been on a hiatus to allow for important STATUS UPDATES on the current situation, that hasn’t meant that the Association’s advocacy efforts have stopped. On the contrary, they have been in FULL GEAR!

We return today to provide you important information on a legislation being considered is transformative for tenants and landlords. Learn more in Section 1.

What’s in this edition?

  1. Learn more about House Bill 1200
  2. NC REALTORS® Legislative Meetings
  3. NC REALTORS® Offices
 
LEARN MORE ABOUT HOUSE BILL 1200

On Tuesday, Representatives John Szoka, Jason Saine, Kristin Bake, and Perrin Jones filed House Bill 1200 “Foreclosure Prevention Grants/Rental & Utility Assistance.” This legislation provides funding to the NC Housing Finance Agency to help pay rent or mortgages for North Carolinians facing foreclosure or eviction, as well as make utility payments. This program is specifically focused to assist property owners and tenants who are facing financial hardship as a result of COVID-19 and mirrors a similar program established during the 2008 financial crisis.

NC REALTORS® has taken the lead among stakeholders on this legislation. If passed, the bill would financially help both tenants and landlords, as well as homeowners and mortgage holders, weather the crisis brought on by COVID-19.

Here is how the legislation structures the program:

  • $200 million from North Carolina’s share of the federal CARES Act would be transferred to the North Carolina Housing Finance Agency and split into two separate grant programs, each totaling $100 million.
  • The Foreclosure Assistance Grant program would provide grants of up to $6,000 directly to an eligible participant’s mortgage holder. There are multiple qualifications for receiving a grant through this program, including it is the sole and primary residence of the property owners, verified financial hardship, income threshold compliance (350% of the federal poverty level), and denial from other forbearance or relief abilities.
  • The Rental and Utility Payment Assistance program also has similar eligibility restrictions as the Foreclosure Grants and caps the total award amount at $6,000. If the payments are made for rental assistance, they would be paid directly to the landlord on the tenant’s behalf at a rate of no more than $1,000 per month (up to six monthly installments). The assistance can cover rental payments that are in arrears. If they are for utility assistance, awards cannot exceed $1,800 and will be paid directly to the individual’s utility provider.

The bill is awaiting referral to a committee and the stakeholders’ work continues. Please make sure to follow NC REALTORS® communications to stay engage on this vital program for citizens across the state.
 

NC REALTORS® Legislative Meetings

As we kick off the 2020 NC REALTORS® Legislative Meetings virtually this year, our advocacy efforts are continuing (just look at Section 1). Though all of the meetings held during this year’s event will focus on what activities have been undertaken to support our industry, we wanted to highlight two special events which take a deep dive into state and federal advocacy activities.


On Friday (May 29), join us for a special Capitol Conversation with your fellow NC REALTORS® members currently serving in the North Carolina General Assembly. Learn what it’s like to serve in the General Assembly while balancing a business and how they are addressing the challenges facing our state in the wake of the coronavirus crisis.

We are ecstatic to announce that this will be our largest gathering of NC REALTOR® legislators EVER!

Join us Friday, May 29, from 10:00 to 11:00 AM. NC REALTORS® Legislative Chair, Leigh Brown, will serve as the moderator for this Conversation.

To register, visit ncrealtors.org/capitolconversation.


And on Wednesday (June 3), make plans to join us from 9:00-10:30 AM, this year’s Legislative Forum will feature special guests, NAR’s Senior Vice President of Government Affairs, Shannon McGahn and Vice President for Federal Policy and Industry Relations, Joe Ventrone. You won’t want to miss this great discussion giving you an insider look at all of NAR’s advocacy efforts.

Registration is required.

Thank you for joining us for this important part of your Association’s advocacy efforts.
 

NC REALTORS® OFFICES

We are continuing our operations with staff working remotely to ensure that we maintain the same level of service to our members. Our offices are currently closed to members and guests until at least the end of May.

You can access our staff directory at ncrealtors.org for contact information.

The NC REALTORS® Legal Hotline will remain open during our regular business hours of Monday through Friday, 8:30 AM to 5:00 PM. To contact the Legal Hotline, email legalhotline@ncrealtors.org.

The NC REALTORS® Tech Helpline is also Monday – Friday from 9:00 AM to 8:00 PM and Saturday from 9:00 AM to 5:00 PM EST by calling the dedicated NC REALTORS® phone number (877-573-5612) or visiting TechHelpLine.com.
 

LINKS TO MORE RESOURCES
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4511 Weybridge Lane, Greensboro, NC  27407
336.294.1415   |   hello@ncrealtors.org   |   ncrealtors.org
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