The Foreclosure Process in North Carolina

Federal law generally requires your loan servicer to wait until the loan is 120 days delinquient before officially starting a foreclosure. If you live at the property the lender must send you an informational sheet with the amount due at least 45 days filing the notice of hearing. The lender must also mail a notice of default to you within 30 days of the date of the notice of hearing.To officially start the foreclosure, the lender files a notice of hearing with the court clerk. At least 20 days before the sale, the lender has to mail you a notice of sale and post the notice in a public place. They are also required to publish a notice of sale in the newspaper. The sale date will begin the public foreclosure auction. A property will spend a minimum of 10 days at the foreclosure auction before the auction closes and the home is officially foreclosed.


So, you’ve missed a few mortgage payments and you’ve received a Notice of Default or Notice of Foreclosure in the mail. Have no fear this is the most flexible stage of the foreclosure process. If you are able, try to pay all missed payments in full. If you aren’t able to, look into other options. A popular course of action we help facilitate is a property sale. Direct off market pre auction sales provide the most financial opportunity and move out flexibility. The investors we partner with will work with you to create a move out agreement that works for you. A direct sale is a quick and legitimate way to save your credit record, and benefit from your property. The earlier you take steps to end your foreclosure, the more promising the outcome. Give us a call if you want to explore your options!

Foreclosure Auction

More time has passed and your first foreclosure hearing has taken place. You now have an auction day set when you can expect your property to become available to buyers at the foreclosure auction. Lenders and Trustee’s are financially motivated to see that the foreclosure goes through. The only way to end the foreclosure at this stage, other than filing bankruptcy is selling your property. However, you must only sell it to an investor who is able to pay the total amount due on the mortgage in full. At North Carolina Foreclosure Relief we only work with investors who have enough capital to pay off home loans in full and immediately. There is still time to sell your property. If the property sells at the auction you get no proceeds, and you have a foreclosure on your record. This is highly damaging to credit. The foreclosure moratorium is ending on June 30, 2021 and lenders are hungry to get their money back. 

10-Day Upset Bid Period

In North Carolina, the auction date for your property is NOT the closing date for your property. In our experience very few people are made aware of this. Once the auction begins on your property there is an automatic 10 Day “Upset Bid Period” or “Redemption Period”. The ONLY way to end a foreclosure at this stage is to pay off all debt owed against the loan in full. The investors we work with are able to do this, but you have to act fast. There is no room for hesitation at this stage, and it is over in the blink of an eye. Never hold out hope through other avenues or buy into scams that can not provide proof of payments immediately.