§ 45-21.16B. Suspension of foreclosure proceedings. - North Carolina Statutes

§ 45‑21.16B.  Suspensionof foreclosure proceedings.

(a)        The Clerk ofSuperior Court shall suspend foreclosure proceedings, including any hearing ororder for sale, for 60 days if notified by the Commissioner of Banks asprovided in G.S. 53‑243.12(n). During the suspension period, alldeadlines under this Article are tolled.

(b)        When a clerk entersa suspension order pursuant to subsection (a) of this section prior to ahearing required under G.S. 45‑21.16, upon completion of the 60‑daysuspension period, the trustee or mortgagee may proceed with the hearing byproviding written notice to all parties of the new hearing date, not less than10 days prior to the hearing date.

(c)        When a clerk entersa suspension order pursuant to subsection (a) of this section, after entry ofany authorization by the clerk pursuant to G.S. 45‑21.16 and before theexpiration of the 10‑day upset bid period, the trustee or mortgagee shallnot be required to comply with the provisions of G.S. 45‑21.16, but shalladvertise and hold the sale in accordance with G.S. 45‑21.16A, 45‑21.17,and 45‑21.17A.  (2008‑228, s. 18.)