§ 45-104 – State Home Foreclosure Prevention Project and Fund.
45-104. State Home Foreclosure Prevention Project and Fund. (a) The purpose of the State Home Foreclosure Prevention Project is to seek solutions to avoid foreclosures for home loans. The Project may include input from HUD-approved housing counselors, community organizations, the Credit Union Division and other State agencies, mortgage lenders, mortgage servicers, and other partners. The […]
§ 45-105 – Extension of foreclosure process.
45-105. Extension of foreclosure process. The Housing Finance Agency shall review information provided in the database created by G.S. 45-103 to determine which home loans are appropriate for efforts to avoid foreclosure. If the Housing Finance Agency reasonably believes, based on a full review of the loan information, the mortgage servicer’s loss mitigation efforts, the […]
§ 45-106 – Use and privacy of records.
45-106. Use and privacy of records. The data provided to the Administrative Office of the Courts pursuant to G.S. 45-103 shall be exclusively for the use and purposes of the State Home Foreclosure Prevention Project developed by the Commissioner of Banks and administered by the Housing Finance Agency in accordance with G.S. 45-104. The information […]
§ 45-107 – Foreclosure filing.
45-107. Foreclosure filing. (a) For the duration of the program authorized by this Article, foreclosure notices filed on home loans on or after November 1, 2010, shall contain a certification by the filing party that the pre-foreclosure notice required by G.S. 45-102 and the pre-foreclosure information required by G.S. 45-103 were provided in accordance with […]
§ 45-101 – Definitions.
45-101. Definitions. The following definitions apply throughout this Article: (1) Act as a mortgage servicer. – To engage, whether for compensation or gain from another or on its own behalf, in the business of receiving any scheduled periodic payments from a borrower pursuant to the terms of any mortgage loan, including amounts for escrow accounts, […]
§ 45-102 – Pre-foreclosure notice for home loans.
45-102. Pre-foreclosure notice for home loans. At least 45 days prior to the filing of a notice of hearing in a foreclosure proceeding on a primary residence, mortgage servicers of home loans shall send written notice by mail to the last known address of the borrower to inform the borrower of the availability of resources […]
§ 45-103 – Pre-foreclosure information to be filed with the Administrative Office of the Courts for home loans.
45-103. Pre-foreclosure information to be filed with the Administrative Office of the Courts for home loans. (a) Within three business days of mailing the notice required by G.S. 45-102, the mortgage servicer shall file certain information with the Administrative Office of the Courts. The filing shall be in an electronic format, as designated by the […]
§ 45-100 – Title.
45-100. Title. This Article shall be known as the Emergency Program to Reduce Home Foreclosures Act. (2008-226, s. 1; 2010-168, s. 9; 2012-79, s. 2.17(g).)