Timeline: 60 Days
Redemption: 10 day after sale
Deficiency Judgments: Yes
Judicial Foreclosure: Yes
Non-Judicial Foreclosure: Yes
Security Instruments: Deed of Trust, Mortgage

North Carolina foreclosure law allows lenders to pursue either Judicial or Non-Judicial Foreclosure procedures. The Judicial Foreclosure process is followed if the original loan documents do not contain a “power of sale” clause. The lender has to obtain an order to foreclose on the property by suing the borrower in court.
If the original loan documents contain a “power of sale” clause authorizing the lender to sell the property in the event of a default, the lender may use the Non-Judicial Foreclosure process. In this process, the clerk of the court must hold a hearing to determine whether a foreclosure may take place or not. All parties to the hearing must be served within ten (10) days of the hearing.
If the clerk of the court determines a foreclosure may take place, a notice of sale is mailed by first class mail to the borrower. The notice must also be published for two (2) consecutive weeks in a newspaper of general circulation in the county in which the property is located.

The last publication can not be less than ten (10) days before the date of sale. The notice must be posted on the door of the county courthouse no less than twenty (20) days before the scheduled sale date.
On the scheduled sale date, the sale will be conducted between 10:00 AM and 4:00 PM. For ten (10) days after the sale date, the auction will remain open, and bids may be filed with the clerk of the court.