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Foreclosure › NC Supreme Court

Foreclosure is a legal process whereby a lender seeks to force the sale of a mortgaged property in order to recover the balance of a delinquent loan. Recently, the foreclosure process has been the subject of... more +
Foreclosure is a legal process whereby a lender seeks to force the sale of a mortgaged property in order to recover the balance of a delinquent loan. Recently, the foreclosure process has been the subject of greater legislative and judicial scrutiny after systemic abuses were uncovered during the widespread foreclosure crisis resulting from the Great Recession. less -
Ward and Smith, P.A.

COVID-19 Eviction Moratoriums: Need-To-Know Information for NC Landlords and Tenants

Ward and Smith, P.A. on

The Coronavirus Aid, Relief, and Economic Security (CARES) Act was passed by Congress and signed into law by President Trump on March 27, 2020.  The CARES Act provided immediate economic assistance for American workers,...more

Ward and Smith, P.A.

Can I Get Sued Over a Court-Authorized Foreclosure?

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If a Clerk of Court authorizes a foreclosure sale and the trustee sells the property, can a borrower or other aggrieved party later sue to nullify the foreclosure sale or recover damages caused by the foreclosure? In the...more

Bradley Arant Boult Cummings LLP

Ruling Eases Lenders’ Path to Deficiency Judgments in NC

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Winning a deficiency judgment following foreclosure may become less costly for lenders following a May 5 ruling by the North Carolina Supreme Court in United Community Bank v. Wolfe. Reversing a previous ruling by the Court...more

Ward and Smith, P.A.

North Carolina Supreme Court Adopts "Substantial Competent Evidence" Requirement for Borrowers Asserting "True Value" Defense in...

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On Friday, May 5, 2017, in a major victory for lenders, the North Carolina Supreme Court reversed the North Carolina Court of Appeals’s decision in United Community Bank v. Wolfe. In July 2015, the Court of Appeals decided in...more

Parker Poe Adams & Bernstein LLP

Lenders Welcome Cinco de Mayo Ruling From NC Supreme Court on Deficiency Judgments

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Readers of my case alerts may remember a July 2015 alert about the troubling North Carolina Court of Appeals decision in United Community Bank v. Wolfe, which made it a lot harder for lenders to obtain a post-foreclosure...more

Parker Poe Adams & Bernstein LLP

Foreclosures in North Carolina - Say Goodbye to Discovery and Res Judicata

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Late December is a time of family, mistletoe and “presents under the tree.” It’s not usually the time when minds switch to the specifics of foreclosure procedure. Yet just before they retired for their Christmas break, the...more

Williams Mullen

Money, Dirt and Steel: Spring 2016 Newsletter

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A snapshot of noteworthy cases from the Spring terms of the North Carolina appellate courts related to lending practices, property rights and construction in North Carolina - Money - FORECLOSURE: - Lender...more

Spilman Thomas & Battle, PLLC

Community Banking Excellence - First Quarter 2016

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In This Issue: - Another Perspective: We interviewed Michelle Crook, CFO of the Bank of Botetourt, and Chris Snodgrass, CFO for Bank of Marion, for our Community Banking Excellence this quarter. We wanted to know...more

Nexsen Pruet, PLLC

Creditors Rights Suffers a Major Depression in North Carolina

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So, What can a Lender Count on from a Guarantor? - In 1933, the North Carolina legislature in reaction to the Great Depression enacted certain defenses against alleged abuses by lenders exercising remedies under...more

Spilman Thomas & Battle, PLLC

Guarantors Can Use Anti-Deficiency Statute in North Carolina

Spilman Thomas & Battle, PLLC on

The North Carolina Supreme Court recently handed down the final word in a dispute over whether guarantors get the benefit of the state’s anti-deficiency statute after the lender bids on and buys the real property at a...more

Womble Bond Dickinson

High Point Bank v. Highmark and Guarantor Liability in North Carolina

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When a borrower’s default results in a foreclosure sale and purchase of the secured property by the mortgagee lender, can a guarantor’s deficiency liability be reduced by the difference between the property’s fair market...more

Nexsen Pruet, PLLC

Deficiency Judgment Cases In North Carolina Just Got A Lot More Complex: CentsAbility: Creditors' Rights Law Update

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A question that continually arose during the foreclosure deficiency actions that were spurred by the recent “Great Recession,” was whether or not a guarantor on a loan could raise the “defense” offered in N.C. Gen. Stat. §...more

Parker Poe Adams & Bernstein LLP

Tough News for Lenders - Major NC Supreme Court Decision on Collection of Post-Foreclosure Deficiencies

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Fall is football time. And as every football fan knows, not every player on the line of scrimmage is an eligible receiver. Imagine how dramatically it would change the game if the entire offensive line were eligible to catch...more

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