The Housing Finance Agency shall review information provided in the database created
by G.S. 45-103 to determine which home loans are appropriate for efforts to avoid foreclosure. If the Housing Finance Agency reasonably believes, based on a full review of the
loan information, the mortgage servicer's loss mitigation efforts, the borrower's
capacity and interest in staying in the home, and other appropriate factors, that
further efforts by the State Home Foreclosure Prevention Project offer a reasonable
prospect to avoid foreclosure on primary residences, the Executive Director of the
Housing Finance Agency shall have the authority to extend one time under this Article
the allowable filing date for any foreclosure proceeding on a primary residence by
up to 30 days beyond the earliest filing date established by the pre-foreclosure notice. If the Executive Director of the Housing Finance Agency makes the determination
that a loan is subject to this section, the Housing Finance Agency shall notify the
borrower, mortgage servicer, and the Administrative Office of the Courts.
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