§ 45-105. (For expiration date, see note) Extension of foreclosure process. - North Carolina Statutes

§ 45‑105.  (Forexpiration date, see note) Extension of foreclosure process.

The Commissioner of Banksshall review information provided in the database created by G.S. 45‑103to determine which subprime loans are appropriate for efforts to avoidforeclosure. If the Commissioner reasonably believes, based on a full review ofthe loan information, the mortgage servicer's loss mitigation efforts, theborrower's capacity and interest in staying in the home, and other appropriatefactors, that further efforts by the State Home Foreclosure Prevention Projectoffer a reasonable prospect to avoid foreclosure on primary residences, theCommissioner shall have the authority to extend one time under this Article theallowable filing date for any foreclosure proceeding on a primary residence byup to 30 days beyond the earliest filing date established by the pre‑foreclosurenotice. If the Commissioner makes the determination that a loan is subject tothis section, the Commissioner shall notify the borrower, mortgage servicer,and the Administrative Office of the Courts.  (2008‑226, s. 1.)