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Law on the way to help those facing foreclosure

Law on the way to help those facing foreclosure

If you're one of the thousands suffering from fear of foreclosure there's some relief.


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If you're one of the thousands suffering from fear of foreclosure there's some relief.

The North Carolina General Assembly approved a law that will help homeowners facing foreclosure.

The law, called the Consumer Economic Protection Act of 2009, will ensure homeowners and mortgage lenders the chance to voluntarily resolve foreclosures.

This act requires lenders to explain in detail what they've done to resolve delinquent home accounts without resorting to foreclosure.

It also requires the clerk of court overseeing a foreclosure to ask what's been done to prevent and provide 60 more days to try and come up with an alternative solution.

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