Is North Carolina a non-recourse state?

[Mindy Jensen]

A friend bought a piece of land at the height of the market. It is now worth almost nothing. He would like to have this monkey off his back, but doesn't know how to proceed.

It is mortgaged, and he would like to simply give it back to the bank. A friend of his bought in this same development, and went into foreclosure. The bank gave him a 1099. Is this a normal procedure in NC?

Thanks!