What You need to Know About Foreclosures
Foreclosures are on the rise, but there are steps you can take to prevent losing your home.
What is foreclosure?
When a homeowner doesn't make the mortgage payments over a period of time,
the lender can begin a legal process to take possession of or sell the home to
recover money owed on the defaulted loan.
What steps can I take to prevent foreclosure?
If you are unable to make your mortgage payment, contact your lender to discuss your options. Options are available.
Learn more by researching the process (Helpful Links are below).
Who should I call for advice?
Please visit www.makinghomeaffordable.gov to find out if you are eligible to refinance or modify your loan to a payment that is more affordable through President Obama’s Making Home Affordable program, a comprehensive strategy to get the housing market back on track.
You may also contact certified counselors directly. Please see flyer for additional information (please click here for Spanish version).
You may also call the Homeowner's HOPE Hotline toll free at 888-995-HOPE (888-995-4673). Counselors will be on hand to provide free assistance to help you avoid foreclosure. More information may be found at www.995hope.org. Please see the
NC map for foreclosure starts per county and the counseling agencies in your county.
Foreclosure Complaints
If you are facing foreclosure, we recommend you call the HOPE Hotline at
888-995-HOPE
(888-995-4673).
However, if you have a foreclosure related complaint against a mortgage
lender/broker or loan officer, you may also file an online complaint with
the N.C. Office of the Commissioner of Banks at
https://www.nccob.org/online/cts/complaintonline.aspx.
Complaints against a mortgage lender/broker or loan officer that are not
foreclosure related may be filed at
http://www.nccob.org/NCCOB/ConsumerAssistance/ComplaintInfo/filingcomplaint.htm.