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Carolina budget includes two items of interest for CUs
GREENSBORO, N.C. (7/14/08)--The North Carolina General Assembly approved a $21.4 million budget last week that includes housing-related appropriations and a fee increase to support floodplain mapping in the state, according to the North Carolina Credit Union League. The budget includes a $10 increase in the fee paid to the register of deeds when a deed of trust or mortgage is registered. Credit unions opposed the increase, the league said (Weekly Update July 11). With the increase, the assembly established a floodplain mapping fund to cover the state’s cost of providing floodplain maps to the Federal Emergency Management Agency. The budget also provides more than $14 million in funding for housing-related initiatives, including:
* Counseling services to help homeowners near foreclosure, $1 million; * Affordable housing for low-income citizens, $2 million; * Independent and supportive-living apartments for the disabled, $8 million; * Counseling and mortgage assistance to citizens at risk of foreclosure because of job loss, $3 million; and * Legal assistance to low-income consumers involved in predatory lending cases, $200,000.
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