How Can a Lender Foreclose on a Property in North Carolina?

Most North Carolina foreclosures begin in the court room. Even if a mortgage agreement contains a power of sale clause, a lender must still initiate a hearing where the court of the clerk determines if a foreclosure sale should take place. If the clerk determines that the foreclosure may proceed then the lender must follow the public notice and sale requirements set forth by state law.
If, however, there is no power of sale clause in the mortgage then the lender must sue the borrower in state court. If the court agrees that a foreclosure should take place then an order to foreclose will be issued and the lender must comply with the notice and sale terms set forth by the court.

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