AANC Update – NC HOPE Program

Industry News,

New HOPE Program agreements are in circulation. It appears that some of the policies in the program as of January 22, 2021 have changed. (Note, these policy changes are not currently reflected on the programs website). We encourage all members to closely review your HOPE program agreement prior to signing.  
Major changes in these new agreements are: 

  1. Removes restrictions from evicting until end of the lease for nonpayment.
  2. Requires lease be extended to cover the period for which HOPE is paying and not ending until the end of a month.
  3. Prohibits eviction for any reason for all months covered the rental payments.
  4. Agrees to waive late fees, penalties, and other charges (likely including court costs and attorneys’ fees) from April 1, 2020 to 60 days.
  5. Rental payments will likely be based on an average monthly number not the actual lease.
  6. Requires funds received to be credited first to current monthly rent, then to past monthly rents, and finally to future monthly rents.

Some of the changes are in response to our conversations with NCORR, the agency administering the program. However, there are other changes that are less than desirable, and we will work to address those. Neither agency affiliated with the NC HOPE Program has officially announced these changes, but new landlord agreements are circulating, and we wanted to make sure members are aware of the aforementioned changes. AANC has reached out to NCOOR for clarification on some of the above-stated changes, chiefly #3.  Once the policy changes are released by NCORR or NC HOPE Program additional updates will be provided.