There were 63,297 foreclosure proceedings initiated in North Carolina last year – up by more than 9,000 from 2008.
Mark Pearce, the North Carolina deputy commissioner of banks, says this year the number could be 20 percent higher.
The state’s stubbornly high unemployment rate has left many who had good paying jobs a few years ago struggling to meet their monthly obligations.
Pearce joins us the studio this weekend to discuss when we’ll see improvement in the housing market. We also discuss recent state legislation designed to better protect at-risk homeowners while cracking down on foreclosure rescue scams.
For a preview of his interview with Chris Fitzsimon, please click below: