Greensboro, NC Realtor: New North Carolina Rules on Foreclosures

New North Carolina Rules on Foreclosures

Two new North Carolina laws were passed yesterday to provide some additional protection to homeowners facing foreclosure. 

Beginning June 1, once a homeowner in North Carolina requests a loan modification, all foreclosure actions must be suspended.  Currently, the law allows mortgagors to continue pursuing foreclosures against homeowners who are waiting to have their loans modified. 

The second law requires mortgagors to provide clear and timely communications if a homeowner requests assistance. 

If you are facing foreclosure here in North Carolina, there is help available.  The North Carolina Commissioner of Banks has established a website to offer lots of solutions.  If you are in Greensboro, NC or the Triad, you may also contact Kelly Walters in our office.  She is a Certified Distressed Property Expert and can provide you with loads of information. 

Comment balloon 1 commentAndy Leung • March 18 2010 03:56PM

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Andy, sounds like a good start.....I bet it is amazing how fast banks respond to the consumers now.

Posted by Damon Gettier, Broker/Owner ABRM, GRI, CDPE (Damon Gettier & Associates, REALTORS- Roanoke Va Short Sale Expert) about 8 years ago

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