Foreclosure Help in North Carolina

North Carolina is what is known as a power of sale foreclosure jurisdiction. This means that foreclosure in North Carolina does not necessarily need to take place through a legal process, and lenders can foreclose privately. Cases will generally occur on a 60 day timeline. NC homeowners should note this information, and inform themselves accordingly of their rights and resources, and how lenders can go about foreclosing on properties. For starters, let’s look at homeownership as a whole in North Carolina.

Population and homeownership

North Carolina has grown slowly but steadily in the past decade, with nearly 10% total growth in that time. Homeownership is narrowly above the national average, at 65%. Median property value is about $50,000 below the national average. Together, these statistics point to a steady housing market with potential to expand in the coming years as people continue moving in search of affordable property.


Wealth and income in North Carolina

North Carolina also demonstrates growth in a few other metrics: average household income, property values, and the number of employees. These are confirmed by data from North Carolina State University pointing at a growing state economy – along with expanding residential construction, shrinking unemployment, and positive growth trends in the state’s metropolitan areas. These trends indicate a favorable situation for North Carolina homeowners and property values.

Have a specific question about Avoiding Foreclosure in North Carolina? Check out our Foreclosure FAQ’s section.

In the case of foreclosure

Should a homeowner receive notice that a lender wishes to foreclose, here are a few resources they can access to get information:

  • MFP, or the Mortgage Foreclosure Prevention Project, a statewide project that aims to help working families retain their homes
  • Calling (888) 995-HOPE, a hotline providing foreclosure prevention counseling
  • this list of federally approved agencies in North Carolina providing counseling on renting, defaulting, foreclosures, and other credit issues

The lack of a legal framework in North Carolina for foreclosure means that homeowners have a responsibility to inform and empower themselves. By investigating the resources at their disposal and their rights, North Carolina homeowners can find ways to maintain their homes.