This page also contains telephone numbers and links to websites where you can find help and additional information. Consult a private attorney to see if there are legal grounds to seek a restraining order. Search for your next property by address, state, city, county or zip code, or use the main menu, above, to guide your way through the explanation of the Foreclosure process.
Foreclosure is a lengthy process, so a REO property has likely been sitting empty for months or sometimes years with little maintenance or care. If the Purchaser fails to pay the balance due within 30 days, the Sheriff will re-sell the property at the earliest possible sale date.
A tenant may have trouble paying rent during the foreclosure proceedings because their landlord/agent may have gone out of business or moved their office without leaving a forwarding address. Notice of the sale is advertised in The News & Observer and posted on the bulletin board inside the Salisbury Street entrance of the Wake County Courthouse 20 days prior to the auction date.
Dishonest companies or individuals sometimes target homeowners who are struggling to meet their mortgage commitment or are anxious to sell their homes. Judicial foreclosure involves filing a lawsuit to get a court order to sell the home (foreclose). Working with foreclosure experts will help your distressed property buying process go much more smoothly.
After a judgment of foreclosure is granted by the court, a Sheriff’s Deed” will be given to the court for safekeeping. There are other rights that tenants have in eviction cases done after a foreclosure. WARNING: Since the Notice of Default is recorded as a public document, many fraudulent companies and scam artists search the public records to send defaulted borrowers offers to help” them avoid losing their homes to foreclosure.