North Carolina beefed up consumer protection from foreclosures...

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NC Gov. Perdue signs beefed up consumer protection

North Carolina consumers soon will have new protections from foreclosures and intimidating debt collection practices.

Gov. Beverly Perdue on Wednesday signed into law a bill approved by the Legislature last month and backed by Attorney General Roy Cooper.

Once the new law takes effect next month, it will allow a clerk of court to postpone a foreclosure hearing for up to 60 days to allow a homeowner more time to work out a payment plan with the mortgage holder and remain in their home.

"During this recession, thousands of North Carolinians have lost their homes because of foreclosure," Perdue said. "When a home is foreclosed it's bad for our families, it's bad for our communities, it's bad for our businesses and it's bad for North Carolina. This bill makes it easier for homeowners to work out a deal with their lenders and avoid foreclosure."

The bill also sets out new rules for companies that attempt to collect from consumers on old debts from credit cards or other unpaid bills.

The law extends regulation to debt buyers, who Cooper said have engaged in overly aggressive debt collecting practices.

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The Associated Press: NC Gov. Perdue signs beefed up consumer protection

I think this is a great effort in helping the public with foreclosure issues. I wish other states would follow this example and offer help as well. Foreclosure numbers are still rising and in this time of reccession alot of famlies need information, guidance, help. Here is a graphic that describes the market.