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North Carolina General Statutes Chapter 53. Regulation of Financial Services § 53-268. Time for initiation of foreclosure

Current as of January 01, 2020 | Updated by FindLaw Staff

When a borrower's obligation to repay the reverse mortgage loan is triggered under G.S. 53-267, in addition to all rights conferred upon owners and borrowers under Chapter 45 of the General Statutes, the lender must give the borrower not less than 90 days' notice of its intent to initiate foreclosure proceedings.  If the contract so provides, interest will continue to accrue during the 90-day period.

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Cite this article: FindLaw.com - North Carolina General Statutes Chapter 53. Regulation of Financial Services § 53-268. Time for initiation of foreclosure - last updated January 01, 2020 | https://codes.findlaw.com/nc/chapter-53-regulation-of-financial-services/nc-gen-st-sect-53-268/

Read this complete North Carolina General Statutes Chapter 53. Regulation of Financial Services § 53-268. Time for initiation of foreclosure on Westlaw

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.

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