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 Home  »  USA  »  South Carolina  » SC Foreclosure Laws

SC Foreclosure Laws

SC Foreclosure Law states that any proceeding regarding foreclosed homes will be handled by the Judicial foreclosure process, as there is no non-judicial foreclosure process present in the state. SC foreclosure process period is of 150 days and that too without redemption period.

South Carolina Foreclosure Laws: An Overview

Mortgage lender in accordance with the foreclosure law will first of all file a lawsuit called Lis Pendens in which the intention to foreclose the property is shown. Then within the period of twenty days the notice is personally given to the borrower by the lender and the same is also filed. But in case mortgage lender is unable to find the defaulter then the notice is published for three weeks in the newspaper. If the borrower make no correction in the foreclosure then the case is handled by the hearing officer and notice to all the concerned parties is sent. The hearing officer then give out order for the sale of the foreclosed property in SC according to the foreclosure law in South Carolina.

Foreclosure Notice of Sale

The notice of sale is published in the newspaper for three weeks in the county's newspaper. It is also posted at the courthouse and contain the lender and borrower's name, description of the property, location and time of the sale. Most of the SC foreclosure auctions take place at 11:00 am by the court officer or special referee on Monday. But if any other procedure has been given it will occur according to that.

At the time of the auction the highest bidder will have to pay five percent of the amount and the remaining amount is paid within 20-30 days of the bid. If the right of deficiency judgment is waived off by the lender then there remains no right of redemption as well. But if the right of deficiency judgment is maintained then the sale continues for 30 days even after the bidding. During this period anyone by making refundable payment can make a new bid. The winner bidder will get the title and then the ownership is transferred to the new buyer by the sale officials.

SC Foreclosure Listings

South Carolina foreclosure listings can be checked for finding the foreclosed homes in different websites. You can also go through the newspaper that contain SC foreclosure list. Realestatezing.com has also made efforts on this side by giving you the SC foreclosure listing in the form of websites that contain info on foreclosure law, homes and other properties.
 
Korn Law Firm
Korn Law Firm is an eminent foreclosure firm that handles foreclosure, title curative, evictions, mobile homes, bankruptcy etc in South Carolina.
Website: http://www.kornlawfirm.com/
 
Foreclosures To Go.com
Foreclosures To Go.com has bank REOs, VA, HUD foreclosed homes, tax liens, pre-foreclosures FSBOs for sale in South Carolina. You can check the given list of foreclosure homes.
Website: http://www.foreclosurestogo.com/statelistings/southcarolinaforeclosurelistings.html
 
South Carolina Foreclosures
All the bank owned properties are listed by the South Carolina Foreclosures. You can contact the professional staff members for any recent addition in the foreclosure homes.
Website: http://www.scforeclosures.com/


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