FinancingGeneralMEDIUM
North Carolina allows deficiency judgments:
Correct Answer
C) Yes, if the lender follows proper procedures
North Carolina allows deficiency judgments if the lender follows proper procedures, including fair value determination.
Answer Options
A
NeverB
Only through judicial foreclosureC
Yes, if the lender follows proper proceduresD
Only for commercial propertiesVideo Explanation3 min
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Related Topics & Key Terms
Related Topics:
foreclosure-processeslender-remediesborrower-liability
Key Terms:
deficiency judgmentNorth Carolina foreclosurefair valuepower of saleN.C.G.S. 45-21.36
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