easley: North Carolina's Governor Signs 3 Foreclosure Bills
- 09/23/08 01:22 AM
In light of recent soaring foreclosure filings in North Carolina - 24% from June 2008 and 125% from July, 2007 - Governor Mike Easley signed a bill to offer relief to homeowners and banks alike. The North Carolina Foreclosure Prevention Project requires that both homeowners and the state's bank commissioner must receive 45 days notice before a foreclosure is filed and also allows the bank commissioner to extend any foreclosure filing notice by 30 days. During this time, the state would negotiate with the homeowner and mortgage holder on their loan interest rate and payments. Easley estimates that that the law could help … (2 comments)
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In light of recent soaring foreclosure filings in North Carolina - 24% from June 2008 and 125% from July, 2007 - Governor Mike Easley signed a bill to offer relief to homeowners and banks alike. The North Carolina Foreclosure Prevention Project requires that both homeowners and the state's bank commissioner must receive 45 days notice before a foreclosure is filed and also allows the bank commissioner to extend any foreclosure filing notice by 30 days. During this time, the state would negotiate with the homeowner and mortgage holder on their loan interest rate and payments. Easley estimates that that the law could help … (2 comments)
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