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South Carolina Foreclosure Law and Procedure

Here is a summary of foreclosure laws and rules for the State of South Carolina:

  • Lenders use mortgages for judicial foreclosure.
  • Foreclosure begins with filing of lis pendens in court.
  • The borrower must be personally served within 20 days and has 30 days to respond.
  • No right of redemption is permitted in South Carolina
  • A deficiency is allowed if the appraised value of the property is less than the amount owed on the loan, after subtracting the sale proceeds.
If you are interested in reading the actual statutes relevant to mortgage and foreclosure in South Carolina those laws are available online.
Learn more about what the above procedures and rules mean. Review the homeowner foreclosure guide on this website.
Posted by Ralphmcd3 on Sat, 02/23/2008 - 17:43

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