answersLogoWhite
Ask
Repossession
Personal Finance
Loans
Money Management

Can the loaner take your house if you are not paying the balance of the loan in North Carolina?

323334
Answer

Top Answer
User Avatar
Wiki User
2015-07-15 18:42:50
2015-07-15 18:42:50

the link to NC statutes is at the bottom. W/O actually looking it up, Ill say NO, they can put a LEIN against the home and when it does sell, they get paid first. Ask a local attorney for an opinion.

TITLE STATE: Yes SECURITY INTERESTS: Shown on title held by lien holder. LICENSE REGISTRATION: North Carolina Division of Motor Vehicles, Vehicles Registration, 1100 New Bern Avenue, Raleigh, North Carolina, 27696. Tel.:(919)733-3025. RECOVERY REQUIREMENT: As per UCC, repossession allowed without committing a breach of the peace. DOCUMENTS REQUIRED FOR LIQUIDATION: Title and Repossession Affidavit, Out of State Repossession titles and affidavits are accepted. PLATES: Remain with the debtor.

http://www.ncleg.net/gascripts/Statutes/StatutesTOC.pl

1
0

Related Questions

User Avatar

The College Foundation of North Carolina is a great place to start (http://www.cfnc.org/paying/schol/info_schol.jsp).

User Avatar

Yes a lender can garnish your wages after a repossession. If the resell value of the item does not cover the cost needed to repay the lender, you are still responsible for paying the balance.

User Avatar

· Burlington, North Carolina · Cary, North Carolina · Durham, North Carolina · High Point, North Carolina · Kitty Hawk, North Carolina · Morgantown, North Carolina · Oxford, North Carolina · Salisbury, North Carolina · Wilmington, North Carolina

User Avatar

North Carolina is north of South Carolina.


Copyright © 2020 Multiply Media, LLC. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Multiply.