Stop Foreclosure in South Carolina


How to Stop Foreclosure in South Carolina

In South Carolina, they only allow the judicial type of foreclosure. This means that for any foreclosure to occur, they must first go to court and follow the due process. This is a long and expensive procedure which will leave the lender with a property that they have to dispose of. Therefore, it is important to note that the lenders would as much as possible want you to keep your home. Here are a few ways with which to resolve the problem.

  • Step 1
    Filing for a Chapter 13 bankruptcy. If you are very much in debt and feel that you don’t have enough cash to pay it off, then you can opt for bankruptcy. There are two types of bankruptcy mainly the Chapter 7 and Chapter 13. If you want to keep your home and prevent it from getting foreclosed, getting Chapter 13 bankruptcy can help you.
  • Step 2
    Modifying your current mortgage. Most lenders are open to the idea of modifying the terms in your mortgage. As long as you give proper evidence that you are no longer capable of paying the orginal amount, then it may be possible that the lender may spread the overdue payments to the other payments.
  • Step 3
    Refinancing your mortgage. If you have an equity in your home and are still able to pay a lower payment, this is a very viable option for you. You can ask your current lender or get a new one to refinance your mortgage.

Synopsis of South Carolina Foreclosure Laws

Judicial Foreclosure Available: Yes

Non-Judicial Foreclosure Available: No

Primary Security Instruments: Mortgage

Timeline: Varies

Right of Redemption: No

Deficiency Judgments Allowed: Yes

In South Carolina, lenders may foreclose on a mortgage in default by using the judicial foreclosure process.

Judicial Foreclosure

The judicial foreclosure process is one in which the lender must file a complaint against the borrower and obtain a decree of sale from a court having jurisdiction in the county where the property is located before foreclosure proceedings can begin. Generally, if the court finds the borrower in default, they will give them a set period of time to pay the delinquent amount, plus costs. If the borrower does not pay within the set period of time, the court will then order the property to be sold.

In South Carolina, the property is generally sold in the following manner:

  1. A notice of sale, containing a description of the property, the time and place of sale, the borrowers name and the lenders name, must be published at the courthouse door and two other public places at least three weeks prior to the date of sale. The notice must also be published in a newspaper of general circulation within the county where the property resides for the same time period.
  2. Unless otherwise ordered by the court, the sale must be conducted at the courthouse where the property is located by the sheriff of said county. The sale must be held on the first Monday in each month, unless it is a holiday and then the sale may take place on the following Tuesday. The sale may begin at 11:00 am and go until 5:00 pm, but the sheriff may close the bidding prior to that time.
  3. Despite the fact that the bidding at the public sale has ended, in South Carolina, the auction actually stays open for a full thirty days after the date of the public sale. During this thirty day time period, anyone may place a bid higher than the last bid amount and the successful purchaser will be the one with the highest bid at the end of the thirty days. This ongoing bid process is referred to as upset bidding. Anyone, other than the successful purchaser, who has placed a bid during this time, will be entitled to a refund of any deposit made in good faith and he or she will have no further interest in the property.
  4. If no objection to the sale price of the property has been filed with the sheriff’s office within three months after the date of sale, the sale will be considered confirmed and the sheriff will make any necessary deed endorsements.

Lenders in South Carolina may file for a deficiency judgment against the borrower and borrowers have no rights of redemption.

Where to go to for Foreclosure Help

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

Stop Foreclosure Early

Preferred Choice Mortgage
(864) 834-5336
600 hwy. 25 North
Travelers Rest, SC

Flagship Mortgage
801 East North Street
Greenville, SC

First Home Equity Loans
103 Sunset Dr Suite A
Mauldin, SC

IMS Mortgage
4341 Charlotte Hwy Ste 201
Lake Wylie, SC

BankLine Mortgage Corporation
15 Whitsett Street
Greenville, SC


Dover Mortgage Company
711 E. Morehead Street
Columbia, SC

Peoples Mortgage Services
3901 Clemson Blvd
Anderson, SC


Wells Fargo Home Mortgage
877-404-9880 ext 1273
508 Hampton Street
Columbia, SC