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NORTH CAROLINA
POWER OF SALE FORECLOSURE

      PROCESS TIMELINE
THE TIME LINE



   The Foreclosure Cycle




HTTP://MAITINLAW.TYLERCOINC.COM/
SUBSTITUTE TRUSTEE
• A substitute trustee is appointed to replace a trustee
  under a deed of trust.




                 HTTP://MAITINLAW.TYLERCOINC.COM/
NOTICE OF HEARING
• Notice of Hearing commences the foreclosure action.




               HTTP://MAITINLAW.TYLERCOINC.COM/
FORECLOSURE NOTICE

• Notice may be served personally (10 days) or posted (20
  days)




               HTTP://MAITINLAW.TYLERCOINC.COM/
NOTICE OF HEARING

             Hearing before Clerk of Court
               (10 days to appeal order)
C.Service of Process
D.Valid debt
E.Default
F.Right to foreclose




                HTTP://MAITINLAW.TYLERCOINC.COM/
NOTICE OF SALE

                      Notice of Sale

•Posted for 20 days
•Served 20 days before sale (25 days for IRS)
•Published in newspaper for 2 consecutive weeks




               HTTP://MAITINLAW.TYLERCOINC.COM/
SALE DAY

                         Sale Day
B.Opening bid by the lender; between 10am and 4pm
C.5% down in cash or certified funds
D.Could be postponed with notice, or canceled without
notice
E.Report of Sale
F.Sale not final until upset bid period expires (10 days)

                HTTP://MAITINLAW.TYLERCOINC.COM/
FINAL REPORT

• Final Report filed and Notice of Foreclosure recorded.




               HTTP://MAITINLAW.TYLERCOINC.COM/
HIGH BIDDER
                      DEFAULTS
• A high bidder who defaults on its bid is liable for fees
  and costs of re-sale plus any loss to the lender.




                HTTP://MAITINLAW.TYLERCOINC.COM/
AS IS PURCHASE

• A Trustee Deed conveys no warranty of title – AS IS
  Purchase.




               HTTP://MAITINLAW.TYLERCOINC.COM/
OUTSTANDING LIENS

• Title must be examined to avoid risks of outstanding
  liens or potential defects in the foreclosure action.




               HTTP://MAITINLAW.TYLERCOINC.COM/
Thank You
For more information contact the

    Maitin Law Firm, PLLC
 8396 Six Forks Road, Suite 201
    Raleigh NC 27615 U.S.A.
     Phone: 919-846-1057

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Foreclosure Cycle

  • 1. NORTH CAROLINA POWER OF SALE FORECLOSURE PROCESS TIMELINE
  • 2. THE TIME LINE The Foreclosure Cycle HTTP://MAITINLAW.TYLERCOINC.COM/
  • 3. SUBSTITUTE TRUSTEE • A substitute trustee is appointed to replace a trustee under a deed of trust. HTTP://MAITINLAW.TYLERCOINC.COM/
  • 4. NOTICE OF HEARING • Notice of Hearing commences the foreclosure action. HTTP://MAITINLAW.TYLERCOINC.COM/
  • 5. FORECLOSURE NOTICE • Notice may be served personally (10 days) or posted (20 days) HTTP://MAITINLAW.TYLERCOINC.COM/
  • 6. NOTICE OF HEARING Hearing before Clerk of Court (10 days to appeal order) C.Service of Process D.Valid debt E.Default F.Right to foreclose HTTP://MAITINLAW.TYLERCOINC.COM/
  • 7. NOTICE OF SALE Notice of Sale •Posted for 20 days •Served 20 days before sale (25 days for IRS) •Published in newspaper for 2 consecutive weeks HTTP://MAITINLAW.TYLERCOINC.COM/
  • 8. SALE DAY Sale Day B.Opening bid by the lender; between 10am and 4pm C.5% down in cash or certified funds D.Could be postponed with notice, or canceled without notice E.Report of Sale F.Sale not final until upset bid period expires (10 days) HTTP://MAITINLAW.TYLERCOINC.COM/
  • 9. FINAL REPORT • Final Report filed and Notice of Foreclosure recorded. HTTP://MAITINLAW.TYLERCOINC.COM/
  • 10. HIGH BIDDER DEFAULTS • A high bidder who defaults on its bid is liable for fees and costs of re-sale plus any loss to the lender. HTTP://MAITINLAW.TYLERCOINC.COM/
  • 11. AS IS PURCHASE • A Trustee Deed conveys no warranty of title – AS IS Purchase. HTTP://MAITINLAW.TYLERCOINC.COM/
  • 12. OUTSTANDING LIENS • Title must be examined to avoid risks of outstanding liens or potential defects in the foreclosure action. HTTP://MAITINLAW.TYLERCOINC.COM/
  • 13. Thank You For more information contact the Maitin Law Firm, PLLC 8396 Six Forks Road, Suite 201 Raleigh NC 27615 U.S.A. Phone: 919-846-1057