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Top 10 Things North Carolina Homeowners Should Do When Facing Foreclosure
Facing foreclosure can feel overwhelming, but you are not out of options. North Carolina has specific foreclosure laws and timelines that give homeowners opportunities to pause, resolve, or exit the situation with dignity and financial clarity. This guide outlines the 10 most important steps to take as soon as foreclosure becomes a concern.
1. Do Not Ignore the Problem
Foreclosure does not happen overnight in North Carolina. Ignoring notices, letters, or court filings only limits your options. Open every piece of mail related to your mortgage and take action immediately.
2. Understand North Carolina’s Foreclosure Process
North Carolina is primarily a non-judicial foreclosure state, meaning most foreclosures are handled outside of court but still require a formal hearing before the Clerk of Court. You have rights, timelines, and opportunities to respond—use them.
3. Contact Your Lender Right Away
As soon as you know you may miss a payment, contact your lender or loan servicer. Many lenders offer:
- Forbearance
- Loan Modification
- Repayment Plans
Early communication shows good faith and may delay or stop foreclosure proceedings.
4. Request a Loan Workout or Modification
Ask specifically about:
- Interest rate reductions
- Extended Loan Terms
- Arrearage added to the back of the loan
Get everything in writing and keep detailed records of who you speak with and when.
5. Attend the Foreclosure Hearing
In North Carolina, foreclosure requires a hearing before the Clerk of Superior Court. Do not skip this hearing. Attending can:
- Delay the process
- Surface errors in documentation
- Create leverage for negotiation
6. Speak With a HUD-Approved Housing Counselor
HUD-approved counselors provide free or low-cost guidance and can help you:
- Review your finances
- Communicate with your lender
- Understand foreclosure alternatives
Homes can be sold traditionally or as-is, depending on condition and timing.
7. Explore Selling the Property Before Foreclosure
Selling the home before foreclosure may allow you to:
- Avoid foreclosure on your credit
- Potentially walk away with cash
- Eliminate debt and stress
Even homes with little or no equity may still have viable selling options.
8. Understand Alternatives Like Short Sale or Deed-in-Lieu
If keeping the home is not realistic, ask about:
- Short Sale – selling for less than what is owed with lender approval
- Deed-in-Lieu of Foreclosure – voluntarily transferring the property to the lender
Consulting a tax professional can help avoid unintended consequences.
9. Watch Out for Foreclosure Scams
Be cautious of anyone who:
- Guarantees they can “stop foreclosure”
- Asks for large upfront fees
- Tells you to stop talking to your lender
Work only with licensed professionals and verified organizations.
10. Get Local Professional Advice
Every foreclosure situation is different. Speaking with a:
- North Carolina real estate professional
- Foreclosure or consumer attorney
- Housing Counselor
can help you choose the option that protects your finances, future housing, and peace of mind.
Final Encouragement
Foreclosure is serious—but it does not define you. Acting early, staying informed, and seeking the right guidance can open doors you may not realize are available.
If you are facing foreclosure in North Carolina, the most important step is this:
Take action today.
Call us today toll-free at
844-678-CASH
2274
Here's what other very satisfied sellers have to say about us:
"Words cannot describe how grateful I am!"
"Thank you so much for your help assisting me in buying my home and stopping the foreclosure on my townhouse. I have lived there for 16 years and thought that I would be there forever. After my stroke, I got behind in my payments and couldn't make ends meet. Your staff was very thorough in explaining the process, walking me through everything. and saving my dignity. They were t ruthful in dealing with me and went out of their way to help me with my move. Words cannot describe how grateful I am. What a relief to have people
that help you. Everyone in the office was great and very professional - always nice and courteous. I really appreciate all of the help and information from everyone involved."
- Valerie A.
"The genuine concern that they all showed was amazing ... "
"This was a terrible and emotional time. which I hope to soon forget. I was going through a divorce, and was in financial ruins with two children to care for. I am so thankful I received the BuyBuyHome.com information and called. They were excellent on the phone, met with me in person, and said they could help me - and THEY DID! Every step of the way I was told everything that would happen. I was informed of everything before it happened. which made it less stressful and easier to deal with. If I hadn't had their help, I could be in a much worse situation with bad credit and a foreclosure; it could have been downright ugly. To have to be in this situation, I could not have asked for better people to work with. The genuine concern that they all showed was amazing. and I am extremely grateful and feel indebted to them. They were honest. everyone did what they said. was there 100% of the way, followed through, gave me feed back, and answered every question I had. I really admired the way they came to rescue me from my situation. Thanks again for the fair and honest treatment, and for helping me in my position, allowing me to pick up and move on. I am now in a better place."
- Ida C.
"Words cannot describe how grateful I am!"
"Thank you so much for your help assisting me in buying my home and stopping the foreclosure on my townhouse. I have lived there for 16 years and thought that I would be there forever. After my stroke, I got behind in my payments and couldn't make ends meet. Your staff was very thorough in explaining the process, walking me through everything. and saving my dignity. They were t ruthful in dealing with me and went out of their way to help me with my move. Words cannot describe how grateful I am. What a relief to have people that help you. Everyone in the office was great and very professional - always nice and courteous. I really appreciate all of the help and information from everyone involved."
- Valerie A.
"The genuine concern that they all showed was amazing ... "
"This was a terrible and emotional time. which I hope to soon forget. I was going through a divorce, and was in financial ruins with two children to care for. I am so thankful I received the BuyBuyHome.com information and called. They were excellent on the phone, met with me in person, and said they could help me - and THEY DID! Every step of the way I was told everything that would happen. I was informed of everything before it happened. which made it less stressful and easier to deal with. If I hadn't had their help, I could be in a much worse situation with bad credit and a foreclosure; it could have been downright ugly. To have to be in this situation, I could not have asked for better people to work with. The genuine concern that they all showed was amazing. and I am extremely grateful and feel indebted to them. They were honest. everyone did what they said. was there 100% of the way, followed through, gave me feed back, and answered every question I had. I really admired the way they came to rescue me from my situation. Thanks again for the fair and honest treatment, and for helping me in my position, allowing me to pick up and move on. I am now in a better place."
- Ida C.
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Get a no-obligation cash offer within 24 hours — no waiting, no guesswork.
✔ We Handle Everything
Behind on payments? Tired of legal headaches? We take care of the paperwork and details, so you don’t have to.
✔ Sell As-Is — No Repairs Required
Old, damaged, or outdated homes are welcome. We buy it exactly as it is.
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Call us today toll-free at
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2274
Call us today toll-free at
844-678-CASH
2274
About Us...
I am Sharon, and I know what it's like to lose your spouse and fall into foreclosure. This may not be your situation; however, when it was mine, I struggled to find someone with integrity and knowledge to help me. I decided to become that person for others and today, with my husband, John, we do just that - with compassion, experience and honesty.
We look forward to talking to you today...John & Sharon Restrepo.
Our Promise...We refuse to waste your time.
Our Promise...We refuse to waste your time.
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We've been helping families find solutions for their properties...
for over two decades
BuyBuyHome.com practices win-win philosophies. We've been helping families find solutions for their specific real estate needs for over two decades. We believe that honesty and integrity are the cornerstones to any great relationship. Our purchase offers are fair and require no appraisal or financing requirements because we pay - CASH. We can close immediately or in your time frame. There are no fees or commissions for our services . BuyBuyHome is not a licensed brokerage. If your home is listed, please have your agent reach out to us.
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