Article

Reverse Mortgages

N.C. Gen. Stat. § 53-255— Title
N.C. Gen. Stat. § 53-256— Purpose
N.C. Gen. Stat. § 53-257— Definitions
N.C. Gen. Stat. § 53-258— Authority and procedures governing reverse mortgage loans
N.C. Gen. Stat. § 53-259— Application of rules
N.C. Gen. Stat. § 53-260— Interest
N.C. Gen. Stat. § 53-261— Taxes, insurance, and assessments
N.C. Gen. Stat. § 53-262— Renegotiation of loan; calculation of outstanding balance; prepayment
N.C. Gen. Stat. § 53-263— Limits on borrowers' liability
N.C. Gen. Stat. § 53-264— Disclosures of loan terms
N.C. Gen. Stat. § 53-265— Information required of lender
N.C. Gen. Stat. § 53-266— Effects of lender's default
N.C. Gen. Stat. § 53-267— Repayment upon borrower's default
N.C. Gen. Stat. § 53-268— Time for initiation of foreclosure
N.C. Gen. Stat. § 53-269— Counseling provisions
N.C. Gen. Stat. § 53-270— Prohibited acts
N.C. Gen. Stat. § 53-270.1— Contracts for shared appreciation or shared value
N.C. Gen. Stat. § 53-271— Commissioner's authority to enforce; penalties
N.C. Gen. Stat. § 53-272— Appeals
N.C. Gen. Stat. § 53-273— Reserved for future codification purposes
N.C. Gen. Stat. § 53-274— Reserved for future codification purposes