An exciting array of North Carolina home foreclosures for sale is currently available for all to explore. Our North Carolina foreclosure listings are frequently updated, featuring the latest households on the market.
Search through the best listings of foreclosures in North Carolina. We provide foreclosed homes and auctions in the major North Carolina cities. Choose a city and fing an excellent deal for you!
Documents Relating to Foreclosures are Much More Widespread than Initially Thought - Sep 27, 2011
Virginia is Not Just for Lovers, Virginia is Also for Foreclosure Purchases - Sep 06, 2011
North Carolina Foreclosures are an Attractive Option for First Time Homebuyers - Aug 02, 2011
South Carolina Foreclosures Offer Potential Homeownership to Many Families - May 30, 2011
North Carolina Foreclosures Concentrate in Urban Areas - May 27, 2011
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Charlotte is North Carolina’s largest city, and the seat of Mecklenburg County. According to the US Census Bureau, Charlotte’s ...
The capital and 2nd largest city of North Carolina, Raleigh is known as the “City of Oaks” due to its ...
North Carolina is located in the eastern region of North America, bordering on the Atlantic Ocean and situated between Virginia and South Carolina. The state's major cities include Charlotte, North Carolina's largest city, followed by the state capital Raleigh, along with Durham, Greensboro, Winston-Salem and Fayetteville, which are also among the states most populated cities.
North Carolina is well known for its impressive display of lakes and rivers, such as Lake Phelps and Lake Waccamaw, along with the Neuse River, Yadkin River and Roanoke River. The state is split into various regions, with a natural blend of coastal flatlands, mixed with giant, sweeping meadows and the rugged hills of the Appalacgian Mountains. North Carolina's scenery is striking and beautiful, with sights that attract thousands of tourists every year.
The production of livestock contributes to nearly half of the state's agricultural industry profits, with hogs and broilers being the most important products in the market. In terms of crops, greenhouse and plants are the most important sectors of the industry, which is then followed by the production of tobacco and cotton. In terms of manufacturing, the packaging of tobacco products is the leading source of revenue for the industry. Computers, electronic components and chemicals also greatly contribute to the state's economy. The commercial fishing industry produces a large quantity of blue crabs, shrimp, flounder and clams, along with trout and crayfish. The state's mining industry generates the most profits from granite, followed by limestone and traprock. Materials, such as sand and gravel, are distributed to sectors in the building and construction industry and are also used to make aluminum and glass.
North Carolina's housing market is currently optimistic, especially for North Carolina home foreclosures, which have experienced an increase in the rate of resales. North Carolina foreclosures account for more than 24 percent of overall household sales in Charlotte. Charlotte's median listing prices are on the decrease as well, with a percentile drop of 5.9 percent in comparison to last year, currently sitting on a price range of $159,800. The demographical statistics in Charlotte indicate that the majority of relationship statuses are married couples. This also coincides with the rate of households with children sitting at more than a quarter, making Charlotte an ideal location for starting families.
While North Carolina allows both judicial and non-judicial foreclosures, judicial proceedings are usually only used if there is a problem with the title deed to the property. As most mortgages or deeds of trust in North Carolina contain a Power of Sale clause allowing the lender to foreclose without a court ruling, judicial proceedings are generally not needed.
Even in the case of a non-judicial foreclosure, however, a preliminary hearing is necessary to register the foreclosure action. After a lender files for the ability to foreclose, the court meets to decide whether to allow it. If the borrower (homeowner) is ruled to be in default, the court clerk issues a Notice of Sale and the lender is allowed to auction off the property.
The Notice of Sale must be posted at the county courthouse and at the property in question, as well as published in a local weekly newspaper for at least two weeks before the sale occurs. The homeowner is entitled to receive a copy of the Notice at least 20 days prior to the sale. The homeowner also retains the right to halt the foreclosure by paying off the default debt owed to the lender at any time before the sale occurs.
The foreclosure auction, which is generally held at the county courthouse, must occur between the hours of 10 a.m. and 4 p.m. If the sale needs to be postponed, the lender may do so by posting notice on the courthouse door.
Once a winning bidder has been established, the original homeowner has ten days in which to redeem ownership by paying the lender the default amount owed. If this does not occur, full ownership is transferred to the winning bidder. Under North Carolina foreclosure law, the lender has the right to pursue a deficiency judgment against the homeowner if the sale price fails to satisfy the full amount of the original loan provided.
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