North Carolina Foreclosure Laws

[edit] Attorney General’s Office

P.O. Box 629

Raleigh, NC 27602

Ph: (919) 733-3377

First Legal Action: Notice of Hearing

Time Frame from 1st Legal Action to Sale Action: 60 Days-5 Months

Final Legal Action: Redemption Expired

Judicial Foreclosure Available: Yes

Non-Judicial Foreclosure Available: Yes

Method Primarily Used: Non-Judicial

Security Instruments: Deed of Trust, Mortgage

Right to Redemption*: Yes; 10 Days

Deficiency Judgments Allowed: Yes; Varies by Process and Case by Case

Foreclosure Postponement Available: No, Must Restart

Super Lien State:

Certified Breach Letter State: No

Lender Retains Copy of the Breach Letter: Yes

Eligible for Tax Advance Repayment Plans: Yes

Statutory State: No

*A borrower’s right to repurchase property lost in foreclosure sale.

- A judgment against ones person making the borrower responsible for the remaining balance on the loan after a foreclosure/sheriff sale.