What happens if the sale date is soon, and are there emergency options to pause it? – North Carolina Short Answer In North Carolina, once a foreclosure sale is scheduled, the sale generally goes forward unless it is postponed by the lender/trustee, stayed by a court order, or delayed through the upset-bid process after the…
Will I owe a deficiency balance after the foreclosure, and how is that calculated? – North Carolina Short Answer Under North Carolina law, a borrower may owe a deficiency balance after foreclosure if the sale price is less than the total debt, unless a statute bars that deficiency (such as for certain purchase-money or qualifying…
If the property sells for more than what is owed, how do I claim any surplus funds? – North Carolina Short Answer In North Carolina, when a foreclosure or execution sale brings in more than the debt and sale expenses, the extra money (the surplus) belongs to the people legally entitled to it, often the…
Can I file Chapter 13 bankruptcy to stop a foreclosure on inherited property? – North Carolina Short Answer Under North Carolina law, a Chapter 13 bankruptcy filing generally triggers a federal “automatic stay” that stops a pending foreclosure on inherited property, as long as the sale has not been completed and the upset-bid period has…
What steps do I need to stay in my home if it’s in foreclosure? – North Carolina Short Answer In North Carolina, a homeowner in foreclosure can often stay in the home by actively working loss-mitigation options with the lender (such as a loan modification or assumption), using the built-in delays and hearing rights in…
How can I assume the existing mortgage after inheriting a property? – North Carolina Short Answer In North Carolina, an heir who receives a home through probate can usually keep making payments on the deceased owner’s mortgage and, in many cases, formally assume the loan if the lender agrees and the heir qualifies. Assumption typically…
Can I negotiate a loan modification, repayment plan, or forbearance to avoid foreclosure at this stage? – North Carolina Short Answer Under North Carolina law, a homeowner may seek a loan modification, repayment plan, or forbearance at almost any point before a foreclosure sale is completed, but the lender is not required to agree. For…
What steps should I take if I don’t receive a timely response from a title search company? – North Carolina Short Answer Under North Carolina law, delay or silence from a title search company is mainly a contract and service-quality issue. The key steps are to document all communications, set a clear written deadline, and…
What can I do if a title search provider fails to deliver a complete report? – North Carolina Short Answer Under North Carolina real estate law, when a title search or abstract is incomplete or does not match the agreed scope, the starting point is the service contract and what was ordered. The client can…
How do I confirm costs for an additional parcel search before proceeding? – North Carolina Short Answer In North Carolina, the cost for an additional parcel title search is a matter of contract with the search company, not set by statute. The clearest way to confirm costs is to get a written quote that specifies…