Learn about North Carolina foreclosure laws and the foreclosure process, from missing your first payment to a foreclosure sale. Learn how foreclosures work in North Carolina.Learn how to avoid foreclosure relief and loan modification scams that pretend to help you, and how to get real help instead. We have included some samples of foreclosure letters, as well as some examples of house loan foreclosure letter formats, to make things easier. NORTH CAROLINA POWER OF SALE FORECLOSURE ABSTRACT - SHORT FORM. The first step in a foreclosure occurs before the "legal" aspect even begins. In the event of any changes in the name and address of the depository bank, the Servicer should prepare a new Letter of Agreement for Servicer's. â–« Falsely certifying in the NOH on a "home" loan that the loan is not a home loan or that the preforeclosure notice was given in all material. (1) An itemization of all past due amounts causing the loan to be in default. In Kemp, the homeowner had taken out a loan from Countrywide.