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Interest on Real Estate Trust Account Program
(IORETA)

Real estate brokers who wish to contribute to the advancement of homeownership in North Carolina are invited to participate in the Foundation's interest beneficiary program.  It's a simple way to make a big impact in your community!

How Does it Work?

Through a partnership between local banks, REALTORS® and their clients, earnest money deposits received by participating real estate agencies are placed into a special interest-bearing account at the agency's participating bank. The interest earned on these accounts is then donated to Homes4NC, which uses the funds for grants to nonprofit housing agencies that provide direct services to North Carolinians.

Why Participate in IORETA?

  • It's an effortless way to contribute to a worthwhile cause.  Just set up the account and let your financial institution do the rest!

  • While only a few dollars of interest typically accrue on each earnest money deposit, when pooled together these funds can have a dramatic impact on our affordable housing efforts.

  • 70 percent of the funds come back to your community in the form of grants, educational programs and disaster relief.

Steps for Participating in IORETA

  1. Read the opinion letter from the N.C. Real Estate Commission, which outlines the procedures for participating in the program.

  2. Set up a separate interest-bearing trust account at your financial institution using the Bank Account Set Up Procedure that has been established by Homes4NC.

  3. Complete the Decision Form letting Homes4NC know that you are participating in the program.

  4. Tell your clients about the program and ask for their participation using one of the convenient standard contract forms created by NCAR (Form 2A11-T or Form 750).

  5. Be sure to publicize your participation in this unique program.

  6. Contact Diane Greene at 800-443-9956 or dgreene@ncrealtors.org for help with any questions.

Information & Forms

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Homes4NC - Making a Difference For Affordable Housing

North Carolina Association of REALTORS® Housing Opportunity Foundation
4511 Weybridge Lane, Greensboro, NC 27407
Phone: 336.294-1415 | Fax: 336.299.7872
E-Mail: dgreene@ncrealtors.org