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Navigating Foreclosure Laws: Selling Real Estate in North Carolina 

Home » Navigating Foreclosure Laws: Selling Real Estate in North Carolina 
Navigating Foreclosure Laws: Selling Real Estate in North Carolina 


In North Carolina, selling a house in foreclosure is a challenging subject requiring considerable time. This daunting topic directly impacts your beloved home and existing financial situation. The foreclosure procedure is initiated when you miss the repayments of the lender’s mortgage at a given time. This triggers the lender to start a legal process against your property when the mortgage repayments exceed two months.  

Selling your house at this critical time is the best approach, as it can fix the issues that arise from the lender and stabilize your financial conditions. This comprehensive article will teach you the key takeaways to consider when selling a foreclosed home. 

Know about foreclosure 

This judicial procedure starts when you fail to repay the lender’s mortgage payments on time. However, before foreclosure, the borrower and lender should negotiate viable solutions to stop this challenging phase. One of the best solutions is selling your house alone, hiring ‘we cash home buyers Cumberland County’ companies, or consulting a professional realtor. 

Types of foreclosure in North Carolina 

Foreclosure in North Carolina can be judicial or non-judicial depending on the lender’s eagerness to retrieve his repayments. 

Judicial Foreclosure 

In this type of foreclosure, you are legally approached by the lender, who appeals to the court to foreclose your real estate property. Then, the court examines the complete procedure and legally focuses on the foreclosed property to sell it to a third party in an auction. This action is being performed to repay the lender’s missing amounts. You can stop this procedure before this foreclosure auction. However, if applicable, you must pay all the remaining dues and extra charges to settle this legal issue effectively.  

Non-Judicial Foreclosure 

In this foreclosure type, the borrower can conveniently repay the missing mortgage payments. In this category, the lender signs a mortgage contract with the borrower where they agree on a certain period to pay the remaining dues. This task is accessible from the court’s involvement and is accomplished in the presence of a third party that acts as a trustee.  

However, the lender and borrowers must strictly follow this mortgage contract and should abide by this considering a state’s law. In addition, if the borrower does not meet the contract’s deadline, his property will be sold at a public auction, like in judicial foreclosure. The amount obtained from this selling procedure will be used to pay the lender’s remaining dues. Otherwise, the borrower must witness the foreclosure process as per the court. 

Timeline to sell a house in foreclosure     

The time it takes to sell a house in foreclosure in North Carolina depends on the mortgage contracts signed by the borrower and lender. The foreclosure process can last up to six months or more, so it is necessary to agree with your potential lender in this phase. 

Limitations of foreclosure in North Carolina 

A few protections act in the form of limitations to check whether the foreclosure process is proceeding as per the state’s law. These limitations also benefit the borrower by preventing them from paying the remaining amount and reducing the chances of foreclosure. These help the borrower get legal advice about the viable options and the rights provided by the state’s law. Following are some critical limitations that are mentioned below: 

  • Requirement of a specific time before the foreclosure notice 
  • An ethical right to arrange the loan payments to avoid foreclosure 
  • A negotiation program between lender and borrower, as per Cumberland County 
  • Looking at the judicial proceedings of the foreclosure 
  • Reclaiming the borrower’s property upon repayment of the mortgage amount 

How to avoid Foreclosure in North Carolina? 

Certain parameters must be considered by the borrower who failed to manage the missing payments. These include communicating with the lender, seeking government departments or NGOs, contacting a housing Counselor, and changing the loan repayment schedule. These parameters can reduce, hold up, or avoid foreclosure in North Carolina.  

Sell a foreclosed house partnered with Freedom Home Buyers! 

We all need to repay the mortgage amount intelligently. However, dealing with lenders can be challenging. Consult Freedom Home Buyers while selling a house in foreclosure in North Carolina. They help you list your house, market it, manage it, and schedule showings to close the deal without hassle. They assist in boosting your sales process by increasing its reachability to potential buyers. Are you ready to contact them through their website or by calling to learn more about the North Carolina foreclosure process?  


Selling a house in foreclosure requires deep insights into the challenges and considerations in North Carolina. This will allow you to repay the remaining loans and stabilize your financial condition. In addition, you must talk to your potential lender about the possible solution and act accordingly to avoid or mitigate the impact of the foreclosure procedure.  

Selling a house during foreclosure alone involves significant time and stress. However, consulting an expert realtor can optimize the sales process. Like the traditional method, these real estate experts list your house to potential buyers without commission, which can enhance your profit after sale.  

Frequently Asked Questions (FAQs) 

How can I reduce or avoid the foreclosure process in North Carolina?   

Certain parameters, such as communicating with the lender, seeking government departments or NGOs, contacting a housing Counselor, and changing the loan repayment schedule, can reduce or avoid foreclosure in North Carolina. 

Is it beneficial to hire ‘We cash home buyers’ companies to sell a house in foreclosure?   

Selling a house by hiring a cash home buyer company is a quick approach. These companies offer you cash while looking at the current appearance of your house. However, these companies do not assist in addressing the legal issues encountered in foreclosure.    

What is the average time for selling a house during foreclosure in North Carolina?  

The foreclosure process can last six months or more, so it is necessary to reach a consensus with your potential lender in this phase. 

Should I consider Freedom Home Buyers when selling a house in foreclosure?   

Consulting Freedom Home Buyers is essential if you encounter foreclosure in North Carolina. They assist in evaluating the foreclosure process and trying to make a perfect deal to overcome your financial challenges.  

How can Freedom Home Buyers assist me in selling my foreclosed home?   

The expert realtor team of Freedom Home Buyers will help boost your house’s reachability to potential buyers. They assist you in making a suitable deal and the transaction process in no time. 

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