Posted by Merrick on February 16, 2007 at 09:42:23:
Man, thanks so much!
You mentioned “when you used to do foreclosures…” So, what are you doing now, and where are you located?
All the Best,
Merrick
Researching Pre-foreclosures in NC… - Posted by Merrick
Posted by Merrick on February 15, 2007 at 15:49:38:
Hi All,
I’ve called the county offices several times, and done many searches online, but I can’t come up with a definitive answer for this.
I want to make a trip to the courthouse next week to pull a list of pre-foreclosures, but I’m still not quite sure what I should be looking for, and where. North Carolina is a non-judicial state (for the most part), and the county I’m marketing in does a preliminary hearing before the clerk of superior court where the lender has to prove they have the right to foreclose. Is this going to be the first step in the paper-trail I need to search, or is there going to be a Notice of Default recorded before this? If so, where would I search for that, Recorder’s office, clerk’s office, or circuit court - civil dept. (I think that would actually be for judicial states)? Any insight would be MUCH appreciated!!
All the Best,
Merrick
Re: Researching Pre-foreclosures in NC… - Posted by lukeNC
Posted by lukeNC on February 16, 2007 at 07:06:25:
1st step in the process is the Substitution of Trustee - you can find this at the register of deeds in your county. 9 times out of 10 the foreclosing attorney will file this at the same time they start the foreclosure.
2nd step ( and you may want to just start here )is going to the Special Proceedings section of the Civil Court area. This is where foreclosures are filed, if its like most counties, they’ll have all the recently commenced foreclosure actions in one little area or in a big binder for you to review.
We have a hearing date set about 30 days after the notice of foreclosure is set.
And at the hearing the clerk will order the sale to be held about 20 days later.
When I used to do foreclosures all the time, I would first go to the substitute trustee filings, then research our legal paper. We have a local legal paper in my county which does a great job of tracking foreclosure actions for investors here.
Most counties will just list foreclosures in the local paper once a sale date has been set by the clerk.
Re: Researching Pre-foreclosures in NC… - Posted by Merrick
Posted by Merrick on February 16, 2007 at 08:34:37:
Thanks for the info Luke! Still a few questions…
- I thought of searching out all the substitution of trustee’s, but thought it would be a task of futility. Aren’t there several other reasons besides a foreclosure there would be a Substitution of trustee? I mean, even if there was a substitution on a trust, wouldn’t that show up too? How would I know which were the start of the foreclosure action and which were not, I don’t think we have a legal paper that keeps up with that info that I could cross-reference.
In the 2nd step you mentioned, am I actually asking for the notice of foreclosures, notice of default, notice of hearing, or what? I’ve found that when I use the word “foreclosure” no matter what the context, they always tell me where the foreclosure sales are posted.
Thanks again for the comments, I really appreciate it.
All the Best,
Merrick
Re: Researching Pre-foreclosures in NC… - Posted by lukeNC
Posted by lukeNC on February 16, 2007 at 08:41:52:
- Yes, sometimes the substitute trustee will be filed when the loan is about to be satisfied.
How you can tell the difference is mainly in who the new trustee is. Most popular foreclosure mills in NC are Shapiro & Ingle, Morris Schneider and Prior, H. Terry Hutchens (Substitute Trustee Services) and Brock & Scott PLLC.
Once you see these names, and countless others, you know a foreclosure is about to be started.
- Ask the clerks where the foreclosure files are located, tell them you have to research the file. That will point you in the right direction.