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“Under North Carolina law, a homeowner’s last chance to stop a foreclosure with a bankruptcy filing comes upon the expiration of the upset bid period,” the Sasser Law Firm explains. “This ...
In the late 1990s, homeowners began coming to Self-Help Credit Union seeking help to avoid foreclosure after unscrupulous subprime lenders had siphoned off their home equity. In response to predatory loans, Self-Help worked with a state coalition in 1999 to help pass the North Carolina Predatory Lending Law, the first such law in the country. [6]
The Home Affordable Modification Program (HAMP) is a government program introduced in 2009 to respond to the subprime mortgage crisis.HAMP [10] is part of the Making Home Affordable program (MHA), [11] established in concert with the Hardest Hit Fund program (HHF) [12] under the Troubled Asset Relief Program (TARP), a part of the Emergency Economic Stabilization Act of 2008. [13]
Foreclosures in North Carolina are on pace to set a new record of 70,000-plus filings in 2010, eclipsing last year's record of 63,289. By the end of July there were already more than 40,000 ...
A deed in lieu of foreclosure is a deed instrument in which a mortgagor (i.e. the borrower) conveys all interest in a real property to the mortgagee (i.e. the lender) to satisfy a loan that is in default and avoid foreclosure proceedings. The deed in lieu of foreclosure offers several advantages to both the borrower and the lender.
The retired NBA legend's sprawling Highland Park estate has been on the market on and off since 2012 Reuters 2 months ago Realtors group forecasts US 30-year fixed-rate mortgage averaging 6% in 2025
It is illegal to impose any zoning, building, or real estate codes that have not been imposed on other non-planned residential communities. Eminent domain is a hot button issue that has affected the relationship between the government and its citizens. The North Carolina Planned Community Act provides a payment allocation plan for lots taken by ...
In more than two dozen cities across the nation the movement took on the housing crisis by re-occupying foreclosed homes, disrupting bank auctions and blocking evictions. [ 15 ] Saying, "The banks got bailed out, but our families are getting kicked out", Occupy Wall Street joined in solidarity with a Brooklyn community to occupy homes that were ...