NC Foreclosure Timeline

Your Deed of Trust will specify what time frame constitutes default, however lenders will typically begin foreclosure proceedings once you are 90 days late.  The legal portion of foreclosure process begins with the Trustee requesting a preliminary foreclosure hearing that takes place at the Clerk of Court.  North Carolina law requires that the notice of hearing be served at least 10 days prior to the hearing date.  The foreclosure sale will typically be held about 30 days later, however it can be held in as little as 14 days. 

During the entire process, you do have the ability to avoid the foreclosure.  Prior the hearing you may be able to to reinstate your mortgage by paying the past due amount and any legal fees incurred by the lender.   Once a sale date is posted, the lender typically will exercise the acceleration clause in Deed of Trust and you’ll have to pay off the entire balance in order to keep your home.

Request Foreclosure Prevention Help
  1. (required)
  2. (valid email required)
  4. (required)
  5. (required)
  6. (required)
  8. (required)
  9. (required)
 

cforms contact form by delicious:days

  • Share/Save/Bookmark