Most North Carolina foreclosures begin in the court room. Even if a mortgage agreement contains a power of sale clause, a lender must still initiate a hearing where the court of the clerk determines if a foreclosure sale should take place. If the clerk determines that the foreclosure may proceed then the lender must follow the public notice and sale requirements set forth by state law.
If, however, there is no power of sale clause in the mortgage then the lender must sue the borrower in state court. If the court agrees that a foreclosure should take place then an order to foreclose will be issued and the lender must comply with the notice and sale terms set forth by the court.
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This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified foreclosure lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact a local foreclosure attorney to discuss your specific legal situation.
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