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Attorney General Asks Lenders to Halt Foreclosures in North Carolina

Real Estate Agent with Coldwell Banker Sea Coast Realty

North Carolina Attorney General, Roy Cooper, is asking 14 lenders to suspend foreclosures in North Carolina. This suspension will remain until the lenders can show they've complied with the law in their foreclosure process. The action arose from concerns that documents and affidavits were signed without proper verification of the information they contain, and in some cases, from concerns about the notarization of the documents. Spokeswoman Noelle Talley said that Cooper is "especially concerned that if foreclosure affidavits are being signed without proper review, then some North Carolina homeowners may not be getting a good-faith shot at loan modifications." Click to read the FULL ARTICLE at www.NewsObserver.com by Rick Rothacker of The Charlotte Observer.

Carla Harbert
www.LorainCountyHomeSales.com - Avon, OH
RE/MAX Omega: Lorain-Medina County Area

I am so nervous on the halting & delaying of foreclosured, bank owned homes currently, since this only prolongs our foreclosure crisis going on. I have a customer right now, that needed to move in quickly, only to be told it could be approx another 2 months until permission, clear to close, comes from the foreclosure process now. Then another title company told me that they had been informed that it could take up to 6 months now for a closing. Hopefully, that was an exageration.

Oct 13, 2010 05:23 AM
Mike McCann Nebraska Land Broker
Mike McCann - Broker, Mach1 Realty Farm & Commercial Land Broker-Auctioneer Serving Nebraska - Kearney, NE
Farm & Commercial Property For Sale 308-627-3700

Stephanie and Carla...I am not sure this whole process is beneficial to any buyers. It should be so cut and dried.  if you make your payments you get to stay in the home...if not, someone else gets to buy it.  Now it has been compromised trying to protect a few (who do need protected) but they are throwing all deals under the bus for the sake of a few.   It is going to be a hard and rocky ride and buyers are going to have to be very patient and be ready to find a different home.

Oct 13, 2010 05:37 AM
Michele Miller ~ REALTOR®, LMC, HSE, CHS, SRES, CMRS
ERA Key Realty~Worcester County Realty Group - Worcester, MA
'Helping You Make the Best Move"

This was discussed at our staff meeting yesterday. This is not good news for sure.

Thanks for your post.

Oct 14, 2010 05:53 AM