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Roger, Lawyer
Category: Real Estate Law
Satisfied Customers: 31787
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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I have my house up for sale in NC but I am now living in Maryland

Resolved Question:

I have my house up for sale in NC but I am now living in Maryland and cannot afford to rent and also pay my mortgage and I am thinking of foreclosing. What are the NC laws on foreclosure. I have had one offer on the house and it was well below what I need to get as I still have a mortgage on the property.   My house has been on the market for 7 months and only one person has shown any interest so far.   I am managing to do both at the moment but my family are helping me with payments and they cannot do that much longer.
Submitted: 6 years ago.
Category: Real Estate Law
Expert:  Roger replied 6 years ago.

Hi - my name is XXXXX XXXXX I'm a Real Estate litigation attorney here to assist you.


Here is a good link that outlines foreclosure law in North Carolina:


The biggest concern is that the lender has a right to seek a deficiency judgment against you if the property sells for less than you owe the lender. In that case, the lender can sue you for the balance.


My suggestion is that you ask the lender to accept a deed in lieu of foreclosure, which will allow you to peacefully return the property to the lender and also allows you to avoid a deficiency judgment.



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