Do You Need Help Staying in Your Home?

For release: January 19, 2011

SC HELP Foreclosure Prevention Program Now Available Statewide

Almost $300 million in funds to keep homeowners in their homes.

[Columbia, SC] Following a successful pilot program and Treasury’s approval of South Carolina’s readiness assessment, SC Housing Corp. will take its foreclosure prevention program statewide. Starting January 20, the South Carolina Homeownership and Employment Lending Program (SC HELP) will use almost $300 million in federal funds to help responsible but struggling homeowners in the state.
Key components for SC HELP include:
Monthly Payment Assistance-assisting homeowners with monthly payments for a defined period of time while they seek employment and a return to self sustainability.
· Direct Loan Assistance-for borrowers who have experienced a hardship but have regained the ability to pay. Funds can be used to pay arrearages in order to bring the loan current.
· Property Disposition Assistance-in cases where the mortgage cannot be salvaged, funds may be provided to incentivize short sales, deeds-in-lieu of foreclosure and to help transition families from homeownership to rental housing.

Homeowners applying for Monthly Payment Assistance or Direct Loan Assistance must meet certain threshold requirements in order to apply for help:
1. Borrower or co-borrower must be able to document that the delinquency was a result of a hardship event beyond his/her control (i.e. unemployment, death of a spouse, catastrophic medical expenses, etc.)
2. Mortgage payments must have been made on time for 12 months preceding the hardship event with no more than two 30-day late occurrences
3. The property securing the mortgage must be owner-occupied as a full-time residence
4. Borrower must provide a financial hardship affidavit
5. Mortgage can be no more than 120 days delinquent
6. Loan servicer/investor must be willing to accept payments and provide required data and reporting

Assistance from SC HELP will be provided in the form of a nonrecourse zero-percent interest, non-amortizing, forgivable loan secured by a subordinate lien on the subject property. The loan will be forgiven over a five-year period at a rate of 20% per year. If property is sold or refinanced prior to the loan termination date, funds will be recovered should sufficient equity be available from the transaction. The Property Disposition Assistance Program will provide a one time, lump sum grant to the recipient.
Additional criteria and documentation requirements must be met for final eligibility determination. Homeowners wishing to make an application should apply online at www.SCMortgageHelp.com. SC HELP officials emphasize that using the online application is the fastest and most efficient way to begin the process. Homeowners without internet access may call toll-free to 855-HELP-4-SC (855 435-7472) to begin the process.

SC HELP is intended to assist responsible borrowers – those borrowers who are facing possible foreclosure due to circumstances beyond their control, i.e. unemployment, death of a spouse, catastrophic medical expenses and/or divorce. SC HELP is NOT intended to serve borrowers who are facing foreclosure due to poor credit and/or debt management, stripping the equity from their home for non-essential purposes, or overall mismanagement of their personal budget.
Additional information, background and resources are now posted on SC State Housing’s website, as well as www.SCMortgageHelp.com, and will be updated frequently.

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SC Housing Corp. is a nonprofit division of the South Carolina State Housing Finance and Development Authority (SC State Housing).

RED Day Update

The Myrtle Beach and Pawleys Island RED Day events held last week were a success! Our combined offices collected pounds and pounds of food for the Low Country Food Bank. The conference room is covered with food! The Myrtle Beach office also collected money for an agent who's son is battling cancer. Thank you to everyone who came out to the Myrtle Beach office's cookout and dropped out food for the food bank.

RED Day

If you are in town on Thursday, May 14th, come join Myrtle Beach Keller Williams Realty agents as we celebrate RED Day. This year is the first annual RED Day (Renew, Energize and Donate). Keller Williams Realty agents were challenged to do something on May 14th that would help our community. Ideas ranged from helping with a Habitat for Humanity build to volunteering at local community events.

The Myrtle Beach Keller Williams Realty office has decided to host a hot dog cookout at noon. We are asking for everyone to bring 5 or more canned goods that we will donate to the Low Country Food Bank. Come join us for food and fun on the 14th!

Blessing of the Inlet

2009 T-Shirts design.

See you Saturday, May 2, at the Blessing of the Inlet. This annual event in Murrells Inlet, now it its 13th year, is held at Belin Methodist Church will kick off at 9:00 a.m. The day will be filled with entertainment, arts and crafts, activities for children and the Blessing Ceremony at 11:30 a.m. No admission fee is charged for the event, and it will take place rain or shine. T-shirts can be purchased for $10.00. If you need more information about the Blessing of the Inlet, visit their website.

Myrtle Beach Wildfire Update

According to South Carolina Forestry officials, the wildfire is 100% contained but it is not 100% out. Firefighters are still keeping an eye on areas affected by the fire and watching for flare ups. Smoke will continue to be a problem in the late evening and early morning hours until the area sees some rain. Roads in the area of the fire may continue to close in the morning hours due to heavy smoke. In recent days. Hwy. 31, Hwy. 22, Hwy. 90 and some of Hwy. 17 have been closed. Also, some area schools will operate on a 2-hour delay tomorrow.

Myrtle Beach Wildfire

The Myrtle Beach wildfire started yesterday morning. I believe it started sometime around 10:oo. I got a text message stating a fire had started off of Highway 90 in Conway. The fire continued to burn through the afternoon. I received another text from our local news channel that a fire was spotted off of Highway 31. At that time, I thought two fires were burning. I learned this morning that, in fact, it was one fire. Hwy. 90 and Hwy. 31 do run almost parallel to one another with a lot of acreage between the two. Last night, the fire was moving north and getting close to Highway 22.

Around 1:00 this morning, officials were watching the fire and the firefighters progress from the Water Tower Road bridge. The fire jumped Hwy. 22 and started burning near homes in Barefoot Resort. The men on Water Tower Road quickly jumped in their cars and drove to Barefoot Resort. They started knocking on doors and getting residents to evacuate. Because some homes at Barefoot Resort are used as 2nd homes, they took extra time to make sure all the homes were evacuated.

The fire continued through the night and into Thursday. The latest report I heard stated that 100 homes were damaged and 69 were destroyed. About 15,000 acres of land have been burned.

The winds did shift a bit this afternoon and residents of Carolina Forest communities were told they could voluntarily evacuate. I talked to several friends in that area. Most are staying at their homes for now, but they have packed bags to be prepared if something should change.

Many roads in the area are closed. If you are traveling to the area or already in the area, check local news for details on the latest closing. Carolina Forest area and North Myrtle Beach area schools are also closed on Friday. You can check The Sun News, WMBF (TV Channel 10) or WBTW (TV Channel 13)for the latest details.

Many other communities have sent their equipment and personnel to help fight the fires. The National Guard have been called in to help, and Governor Sanford declared a state of emergency. Four Blackhawk helicopters have been called in from NC to drop water on the fire. Shelters have been set up across the county for both people and their animals that have been affected by the fires. Several local hotels are providing rooms for free for residents displaced by the fire. Thank you everyone helping with this very difficult situation.





This morning, I had an appointment on the north end of Myrtle Beach. While I was still far away from the center of the fire, the smoke could be seen. I took these pictures around 82nd Avenue North near the Grand Strand Hospital. The smoke is actually on the west side of the Waterway, but it looks much closer. The last couple of pictures were taken from 38th Avenue North.

Hard Rock Park Update

The former Hard Rock Theme Park has a new name. The park will now be called Freestyle Music Park. The new owners of the park had wanted to keep the Hard Rock name, but they were unable to reach an agreement with Hard Rock International.

Owners still hope to have the park opened by Memorial Day weekend. The park will not be limited to a rock theme, instead it will now incorporate rock n' roll, country, R&B, reggae, beach music, pop, alternative, Christian and disco.

Market Common Comes of Age

Below is an excerpt from The Sun News published on March 29, 2009

Market Common Comes of Age

A year on, buildings are full, shoppers abound
By Jessica Foster - jfoster@thesunnews.com

Unless he's going to work, Taft Corbett rarely has to get in his car.

The shopping, the parks, the dining and festivals are all right in his backyard in what many residents of The Market Common district have nicknamed "the bubble."

"Really most of what I do outside of work is here in this little area," he said.

This time a year ago, Myrtle Beach's first urban village was getting its finishing touches and only a few residents lived nearby.

Now, it is becoming the walkable community that planners envisioned and a bustling hub for recreation and community events.

To view the complete article, click here.
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The Market Common will celebrate its First Anniversary on April 4, 2009. Activities will start at 4 p.m. and fireworks begin at 8:30 p.m.

Hard Rock Park Update

Some background information... Hard Rock Park located off of Highway 501 in Myrtle Beach opened in April 2008. The park hoped to attract locals and tourists alike. However, when the park did not draw the expects crowds, it closed in bankruptcy in September 2008. Hard Rock Park was purchased in February 2009 by FPI MB Entertainment. FPI MB Entertainment was able to purchase the park out of bankruptcy for $25 million.

Hard Rock International and FPI MB Entertainment are in discussions now about keeping the Hard Rock brand. Because of the name recognition of Hard Rock, officials with FPI MB Entertainment are hoping to be able to keep the name and use it in their marketing. Will keeping the Hard Rock name help or hurt the park? No one knows. On one hand, name recognition might draw visitors to the park. On the other hand, changing the name could eliminate negative publicity created by the bankruptcy proceedings.

One thing is certain ~ officials want to attract a more visitors and a wider range of visitors. Past visitors to the park complained about the high ticket price and lack of rides for children. Officials have previously stated that ticket prices would be lowered to $35-$40 from $50 and more rides for children would be added.

The park is expected to re-open by Memorial Day Weekend. Will you visit the park this season? Leave a comment about your experiences with the park last year and whether or not you plan to visit the park once it reopens.

Happy Birthday, North Myrtle Beach!

North Myrtle Beach celebrated its 40th birthday today, Wednesday, May 7, 2008.

The leaders of the small towns of Cherry Grove Beach, Ocean Drive Beach ("O.D."), Crescent Beach and Windy Hill Beach thought they could be more successful as one larger city versus several smaller towns. The merger came after more than a year of discussions. The towns incorporated in 1968, and leaders decided to name the town North Myrtle Beach. The name was chosen to play off the success and popularity of Myrtle Beach, a few miles south.

Over the last 40 years, the town has grown considerably. When the town incorporated, it consisted of about 350 beach homes connected by unpaved roads. Now, North Myrtle Beach has about 13,000 full-time residents, four lanes of Highway 17, condos and many businesses. Barefoot Landing has grown into a major shopping area from a hand-full of stores.

I've seen the changes first hand in North Myrtle Beach. My family vacationed for years in North Myrtle Beach in the Crescent Beach section. We stayed in the same home each year, and my sister and I thought it was "our" beach house! Then, only a few high-rise condos dotted the landscape. Most of the condo complexes were low-rise (2-5 stories). We always visited Bert's Surf Shop and had to buy a t-shirt on Main Street in O.D. During the day, we relaxed at the beach and played in the ocean until the lifeguards went home. We ate dinner at the White Point restaurant - then, it was located west of 17 where the Alabama Theatre now sits. Highway 22 and Highway 31 did not exist. It was basically one way in and one way out!

North Myrtle Beach has definitely "grown up" over the years. I have tons of great memories of time spent in North Myrtle Beach with my family and friends. The former small beach towns incorporated 40 years ago to form North Myrtle Beach have surely given many other people wonderful memories as well.

Happy 40th Birthday, North Myrtle Beach!

Property Tax Increase - Point of Sale

Last week, I discussed some points of the new South Carolina Property Tax Reform in one of my posts. The South Carolina REALTORS Association created a short Point of Sale brochure to outline the changes, list what steps to take if you think you are paying too much for your property taxes and a worksheet to estimate your property taxes.

Take some time to review the brochure and estimate your property taxes based on the new formulas. If you have any questions about the new changes to the SC property taxes, call me at (843) 267-2710 or email me at Kathy@KathyRukat.com.

2007 Sun Fun Festival Memories

The weather is getting warm, and I thought now would be a great time to reminisce about the 2007 Sun Fun Festival. Myrtle Beach has competed to build the tallest sandcastle during the last few Sun Fun Festivals.

Myrtle Beach won in 2006, but our title was lost later in the summer. We came back in 2007 fully prepared to regain our title. Even with Tropical Storm Barry bringing bad weather to the Myrtle Beach area, crews worked to build "The World's Tallest Sandcastle" and won! The official measurement was 49.55 feet. Because of the rainy weather, I did not see the sandcastle being built, but I was able to get some great pictures later in the week.

The 2008 Sun Fun Festival is scheduled for June 5th-9th. Another fun, family-friendly event in Myrtle Beach, the Beach, Boogie and BBQ is scheduled for Labor Day weekend, August 29-30, 2008.

Hard Rock Theme Park Grand Opening Band Announced

The Hard Rock Park is taking shape off Highway 501 in Myrtle Beach, and the Led Zeppelin roller coaster can be seen from Bypass 17. As the opening date approaches, the grand opening band has been announced. Rock-n-roll fans will be excited to hear that The Eagles will be the opening act!!

The Park opens to the public on May 9th. The grand opening extravaganza will last two day beginning on June 2nd with The Eagles concert and will continue on June 3rd with a concert by the Moody Blues. A celebrity golf tournament will be held as well.

Democratic Debate

The Democratic Party held its debate in Myrtle Beach last night, Monday, January 21. This debate was held at the Palace Theatre located at Broadway at the Beach. As with the Republican debate, the Democratic debate featured a sand sculpture of the candidates. CNN aired the debate.

GOP Debate

All eyes around the nation will be on Myrtle Beach today. The Republican Party will be holding a debate tonight at the Myrtle Beach Convention Center. Fox News will be broadcasting the debate at 9 p.m. Candidates at tonight's debate include Ron Paul, John McCain, Mitt Romney, Mike Huckabee, Rudy Giuliani and Fred Thompson.

A group from Team Sandtastics have been working on "Mount Myrtle Beach" since Monday morning. The sand sculpture was completed Thursday morning prior to the debate Thursday night. The sculpture features a bust of all six candidates in tonight's debate. Once the debate is finished, the sculpture will be demolished and the sand will be moved to the site of the Democratic debate later in the month.


Traffic will be re-directed on Thursday prior to and during the debate. If you will be traveling in the area of the Convention Center, check the Debate Traffic Map.

The Democratic Party will hold their debate at the Palace Theatre in Myrtle Beach on January 21, 2008.

Market Commons Progress

Thursday, October 11, 2007 marked the one-year anniversary of work beginning at The Market Commons on the old Air Force Base. Construction on the townhouses and the store fronts has begun. To read the complete story written Friday in the Sun News, click here. You can also view a video of the construction. Three companies announced on Thursday they would open stores at The Market Commons. Those stores include Victoria's Secret, Bath and Body Works and Travinia Italian Kitchen. Other planned tenants are listed in the Sun News article.

The Market Commons remains a large undertaking for all involved. If you have any questions about the progress or purchase opportunities, let me know.

Homeowners' Insurance Bill Signed into Law

As any coastal homeowner can tell you, homeowners' insurance premiums were a hot topic of conversation over the last year. Many policies were not renewed and those that were renewed carried higher premiums. Most hard hit were condo complexes between Business 17 (Kings Highway) and the Intracoastal Waterway. State Legislature worked hard to remedy the situation. A temporary fix was put into place in March 2007. The wind pool line was expanded to the Intracoastal Waterway.

Recently, the House and Senate agreed on amendments to H.3820, the Omnibus Coastal Property Insurance Reform Act, making insurance reform permanent. The passage of this bill was a big "win" for the citizens of South Carolina's coast. Among other things, the bill would create catastrophe savings accounts, establish incentives for insurance companies to write additional policies in the wind and hail zone, expand the cancellation notice period and force insurers to reveal catastrophe models to the Department of Insurance. The Senate made the wind pool expansion that took place in March 2007 permanent. The bill was signed into law on Monday, June 11, 2007 by Governor Mark Sanford. Bill signing ceremonies were held in Myrtle Beach and Charleston.

Sun Fun Follow Up

Tropical Storm Barry prevented me from attending any of the weekend festivities associatied with the Sun Fun Festival. I planned to take lots of pictures and post them here. Hopefully, the sandcastle got built, and I can stop by to snap a shot of the final masterpiece! Feel free to check out the Sun Fun Festival website at http://www.sunfunfestival.com/.

TS Barry did bring some much needed rain to the Myrtle Beach area. By the time the weather hit our shores, Barry had been downgraded to a Tropical Depression. We were glad to get the rain without the damage!

Sun Fun Festival

It's time for Myrtle Beach's Annual Sun Fun Festival. The Festival kicks off today (May 31, 2007) and continues through June 4, 2007. Last year, Myrtle Beach competed for the World's Tallest Sandcastle. We won, but the victory was short-lived. We're competing again this year for the title of World's Tallest Sandcastle! The Festival includes concerts, beach parties, air shows and pageants. If you will be in town this weekend, stop by one of the Sun Fun Festival events. Several celebrities will be in town...maybe you will get to meet one of them! More information on the Sun Fun Festival can be found at http://www.sunfunfestival.com/.

Update on Homeowners' Insurance

Homeowners' Insurance has been increasing over the last few months in the Myrtle Beach area. Many things contributed to this increase including the rough hurricane season the US saw in 2005. The Director of Insurance and other South Carolina politicians suggested expanding the South Carolina Wind and Hail Pool.

What is the South Carolina Wind and Hail Pool? The SC Wind and Hail Pool is a source of funds used to purchase wind and hail coverage provided by the state. In Horry county, residents east of Business 17 can obtain wind and hail coverage from the SC Wind and Hail Pool. This pool provides coverage for these property owners since their regular insurer will not provide wind and hail coverage east of Business 17. Insurance coverage through the SC Wind and Hail Pool is not cheap!

After the large increase in homeowners' insurance (especially in the condo community) seen this spring and summer, government officials suggested expanding the Wind Pool to the Waterway. Expanding the Wind Pool would help condo owners obtain insurance at lower rates. However, homeowners between Business 17 and the Waterway could be effected adversely. Traditional insurance providers would not provide wind and hail coverage to property owners if they could use the SC Wind and Hail Pool. Those homeowners could see an increase in their wind and hail premium. The conclusion (for now) is that the South Carolina Wind and Hail Pool will not be expanded.

I will be posted more information about homeowners' insurance over the next few days.