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RALEIGH – Gov. Bev Perdue signed the Consumer Economic Protection Act into law Wednesday in an attempt to help homeowners and lenders work together to keep North Carolina residents in their homes.

The act doubles the time leading up to foreclosure hearings, now giving homeowners up to 60 days to act. Credit counselors say that for many people who face foreclosure, a little more time is all they need.

“It just really opens up a window of opportunity for a lot more people to keep their homes when they’re at that critical stage,” Donna Watkins, of ClearPoint Credit Counseling, said.

And they say giving mortgage companies more time to respond to homeowners keeps families in their homes.

“Some folks, only being one payment behind and putting in a modification request and not getting an answer for 60 to 90 days, and that home goes further into foreclosure,” Watkins said.

State leaders say the law helps those who make an effort to get themselves out of trouble.

“The bill will really help make it easier for homeowners to work out a deal with their lenders to avoid the foreclosure, and that’s the best of all things,” Perdue said.

But counselors say even with the extension, it’s important to act quickly if you find yourself struggling.

“I think it’s very important that consumers know that just waiting for it to work itself out is not the best idea. Recognize immediately that you’re in danger of being late and start acting now,” Watkins said.

Nearly 40,000 homes have gone into foreclosure in North Carolina this year.