North Carolina § 45-102 - Pre-foreclosure notice for home loans.

§ 45-102. Pre-foreclosure notice for home loans.

At least 45 days prior to the filing of a notice of hearing in a foreclosure proceeding on a primary residence, mortgage servicers of home loans shall send written notice by mail to the last known address of the borrower to inform the borrower of the availability of resources to avoid foreclosure, including: An itemization of all past due amounts causing the loan to be in default. An itemization of any other charges that must be paid in order to bring the loan current. A statement that the borrower may have options available other than foreclosure and that the borrower may discuss available options with the mortgage lender, the mortgage servicer, or a counselor approved by the U.S. Department of Housing and Urban Development. The address, telephone number, and other contact information for the mortgage lender, the mortgage servicer, or the agent for either of them who is authorized to attempt to work with the borrower to avoid foreclosure. The name, address, telephone number, and other contact information for one or more HUD-approved counseling agencies operating to assist borrowers in North Carolina to avoid foreclosure. The address, telephone number, and other contact information for the State Home Foreclosure Prevention Project of the Housing Finance Agency. History (2008-226, s. 1; 2010-168, ss. 1, 9; 2012-79, s. 2.17(a), (g).) Editor's Note. - Session Laws 2008-226, s. 6, as amended by Session Laws 2010-168, s. 9, and Session Laws 2012-79, s. 2.17(g), made this section effective November 1, 2008. Session Laws 2012-79, s. 2.17(g), deleted the sunset provision and thus this Article will not expire May 31, 2013. Session Laws 2012-79, s. 2.17(h) provides: "This section becomes effective December 1, 2012. The North Carolina Housing Finance Agency shall assume the responsibilities designated in this section for operation of the State Home Foreclosure Prevention Project no later than December 31, 2012." Effect of Amendments. - Session Laws 2010-168, s. 1, effective November 1, 2010, in the section catchline and in the introductory paragraph, substituted "home loans" for "subprime loans"; and in subdivision (6), added "or, alternatively, if the loan is served by a credit union, the address, telephone number, and other contact information for the consumer complaint section of the Credit Union Division." Session Laws 2012-79, s. 2.17(a), effective December 1, 2012, rewrote subdivision (6), which formerly read: "The address, telephone number, and other contact information for the consumer complaint section of the Office of Commissioner of Banks, or, alternatively, if the loan is serviced by a credit union, the address, telephone number, and other contact information for the consumer complaint section of the Credit Union Division."