Foreclosure CLEs Attract 450 Volunteers

Article Date: Tuesday, December 16, 2008

Written By: Russell Rawlings

Robert Allen

North Carolina Bar Association efforts to assist N.C. homeowners who may be facing foreclosure are off to an impressive start, thanks to a strong turnout at recent CLE training programs held in Cary, Wilmington and Charlotte.

“With our final training program that occurred Friday in Charlotte, we have trained approximately 450 attorneys and paralegals to handle Red Flag Reviews,” said Robert Allen, chair of the NCBA Real Property Section. “Additional training has also been provided regarding the negotiation and representation in foreclosure actions.”

The training program CLE, titled N.C. Foreclosure Prevention Project, was provided free of charge by the NCBA Foundation’s CLE Department to participants who agreed to handle two Red Flag Reviews at no cost. It was developed in conjunction with the State Home Foreclosure Prevention Project of the N.C. Office of the Commissioner of Banks which was recently touted by Gov. Easley as a national model.

The Real Property Section, the NCBA Foundation Pro Bono Project and Legal Aid of North Carolina are working with the state banking commission on this timely endeavor, which addresses three specific components of the foreclosure process: Red Flag Reviews, negotiation of loan modifications and foreclosure representation.

Mark Pearce

The urgent need for volunteer participation, in light of the ongoing financial crisis, is enormous. The Office of the Commissioner of Banks simply cannot handle the onslaught of foreclosure-related matters.

“With the number of homeowners needing assistance, we need ‘all hands on deck’ to help make sure we avoid needless foreclosures,” said Mark Pearce, deputy commissioner of banks. “The North Carolina Bar Association has been an invaluable partner in recruiting capable volunteers to pitch in on this project.”

In just one month since the inception of the Foreclosure Prevention Project, the Office of the Governor reported, some 1,000 homeowners have asked the NCCOB for assistance. Subprime lenders, who are now required to provide 45 days written notice before filing foreclosure proceedings, have filed more than 7,000 subprime pre-foreclosure notices.