Governor Perdue signs bill to protect consumers from home foreclosures - WECT TV6-WECT.com:News, weather & sports Wilmington, NC

Governor Perdue signs bill to protect consumers from home foreclosures

Posted by Debra Worley - email

RALEIGH, NC (WECT) - Governor Bev Perdue signed a Senate Bill Wednesday that will help homeowners facing foreclosure, preserve communities, and protect consumers from unfair debt collectors.

According to the governor's office, court records show nearly 40,000 homes have gone into foreclosure in 2009. 

The Center for Responsible Lending reports more than 2.2 million North Carolina homeowners will see their property values decline over the next three years because of foreclosures in their neighborhood.

"Everybody loses when a foreclosure happens," Attorney General Roy Cooper said.  "Giving homeowners and lenders more time to find solutions can save homes, neighborhoods and money."

Perdue said Senate Bill 974 will make it easier for homeowners to work out a deal with their lenders and avoid foreclosure.

The bill empowers the Clerk of Court presiding over a foreclosure hearing to ask what steps have been taken to prevent foreclosure and to continue the hearing for up to 60 days to allow homeowners and lenders more time to negotiate a solution. 

Consumer tips on home loans, debt collectors and many other topics are available from the Attorney General's Consumer Protection Division at www.ncdoj.gov.

©2009 WECT. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Powered by Frankly