Reverse Mortgages.

  1. Law
  2. North Carolina General Statutes
  3. Regulation of Financial Services
  4. Reverse Mortgages.

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Section
53-255

Title.

Section
53-256

Purpose.

Section
53-257

Definitions.

Section
53-258

Authority and procedures governing reverse mortgage loans.

Section
53-259

Application of rules.

Section
53-260

Interest.

Section
53-261

Taxes, insurance, and assessments.

Section
53-262

Renegotiation of loan; calculation of outstanding balance; prepayment.

Section
53-263

Limits on borrowers' liability.

Section
53-264

Disclosures of loan terms.

Section
53-265

Information required of lender.

Section
53-266

Effects of lender's default.

Section
53-267

Repayment upon borrower's default.

Section
53-268

Time for initiation of foreclosure.

Section
53-269

Counseling provisions.

Section
53-270

Prohibited acts.

Section
53-270.1

Contracts for shared appreciation or shared value.

Section
53-271

Commissioner's authority to enforce; penalties.

Section
53-272

Appeals.

Section
53-273

Reserved for future codification purposes.

Section
53-274

Reserved for future codification purposes.