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NC foreclosure questions

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ilzhoefer
Frequent Contributor

NC foreclosure questions

Hello:

 

Can anyone tell me how long a bank has in NC to come after someone after the home is foreclosed on?

I have heard 1, 3,5 and 10 years? Isn't there a statue of limitations?

 

If the bank does pursue me for the foreclosure deficiency,. What are some of the options other than BK?

 

I have no other debt, except a modest car payment that I have never been late on.

 

Any help is appreciated.

 

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1 REPLY 1
Necromancer
Regular Contributor

Re: NC foreclosure questions

For a  Promissory Note: 5 years, Written Contract: 3 years are the terms for the statue of limitations on debt collection in NC.

Message 2 of 2
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