South Carolina Foreclosure Help – Stop Foreclosure in South Carolina

 


Finding Foreclosure Help in South Carolina

Foreclosure prevention counseling services are provided free of charge by nonprofit housing counseling agencies working in partnership with the Federal Government. These agencies are funded, in part, by HUD and NeighborWorks® America. There is no need to pay a private company for these services.

Columbia Field Office

Dept. of Housing and Urban Development Strom Thurmond Federal Building
1835 Assembly Street, 13th Floor
Columbia, SC 29201

Phone: (803) 765-5592

Fax: (803) 253-3043

Jurisdiction: State of South Carolina

Jim Chaplin
Field Office Director

Office Hours: 8:00 a.m. to 4:45 p.m.

Monday through Friday

South Carolina Foreclosure Laws Summary

Quick Facts:

  • Judicial foreclosure process is available.
  • Non-judicial foreclosure process is not available.
  • The primary security instruments are mortgages.
  • The timeline can vary by process with no specific number of days.
  • The borrower has no rights of redemption depending on the process.
  • The lender may sue for deficiency judgements.

Lenders in South Carolina use only the judicial foreclosure process when foreclosing mortgages in default.

Judicial Foreclosure
The judicial process involves the filing of the lender of a court order. If the court finds the borrower guilty of the default, he is given a grace period to settle the existing balance. If the borrower is unable to settle his debt, the property will then be sold to the highest bidder.

The notice of sale should be published in the public newspaper in the county where the property is located. The notice of sale is posted at the courthouse as well as 2 public places. This must be done at least three weeks before the date of sale.

The schedule of the sale is every first Monday of the month. The location is at the county’s courthouse during 11 am to 5pm. Special cases occur during Monday holidays that the foreclosure sale is moved to a Tuesday.

Even after the bid has ended, others can still bid for the next 30 days. The highest bidder will walk off with the property. Anyone who loses interest will have their money refunded.

The sale will only be approved if three months has already passed and no objections has been made on the sale price of the property.

Lenders in the state can file their deficiency judgements. Borrowers on the other hand do not have any rights of redemption of the property.