53-255. Title.
This Article shall be known and may be cited as the Reverse Mortgage Act. (1991, c. 546, s. 1; 1995, c. 115, s. 1.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 53 - Regulation of Financial Services
Article 21 - Reverse Mortgages.
§ 53-258 - Authority and procedures governing reverse mortgage loans.
§ 53-259 - Application of rules.
§ 53-261 - Taxes, insurance, and assessments.
§ 53-262 - Renegotiation of loan; calculation of outstanding balance; prepayment.
§ 53-263 - Limits on borrowers' liability.
§ 53-264 - Disclosures of loan terms.
§ 53-265 - Information required of lender.
§ 53-266 - Effects of lender's default.
§ 53-267 - Repayment upon borrower's default.
§ 53-268 - Time for initiation of foreclosure.
§ 53-269 - Counseling provisions.
§ 53-270.1 - Contracts for shared appreciation or shared value.