What should I expect during the foreclosure process?

In North Carolina, the foreclosure process typically begins with the lender filing a complaint to foreclose the mortgage with the clerk of court in the county where the property is located. After the complaint is filed, the borrower is then served with a summons and notice of a hearing, which will be held in the county where the property is located. At the hearing, the borrower will be asked to respond to the complaint and they will have the opportunity to present any defenses available under the law. If the borrower fails to respond to the complaint, they may be in default and the foreclosure process may be expedited. If the borrower does respond to the complaint or is not in default, the lender may still be able to obtain a foreclosure judgment through a summary proceeding. In the case of a summary proceeding, the court will decide the case based on the written documents submitted by the parties, without a hearing. If the borrower disputes the summary proceeding, then a hearing will be held. In either case, the borrower should be prepared to present legal arguments regarding their defenses. This may include the lender failing to comply with the terms of the mortgage, or failing to follow the appropriate foreclosure procedures. It is important for the borrower to research and understand the foreclosure defense laws in North Carolina in order to prepare an effective defense. If the borrower cannot present a valid defense, they may still be able to negotiate other options with the lender such as a loan modification.

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What should I expect during the foreclosure process?

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