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Wake Forest Story

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Easley Pushing Plan To Help Struggling Homeowners

Credit: AP Online
RALEIGH, N.C. -

Gov. Mike Easley is calling on lawmakers to approve a measure that could help some homeowners struggling to pay their mortgages.
     
A House judiciary committee began examining the plan Tuesday but didn't vote on it.
     
The proposal would require that mortgage providers give borrowers at least 45 days notice before starting foreclosure proceedings. The commissioner of banks would be notified about the delinquent borrowers and would have the power to negotiate new loan terms to help the homeowner.
    
Easley said the plan could help up to 25,000 North Carolina families keep their homes.
     
The plan needs the approval of both the full House and the Senate before it could be sent to the governor's desk for Easley's signature.

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