Serving Clients Throughout Upstate South Carolina

Serving Clients Throughout Upstate South Carolina

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What are your rights during a foreclosure in South Carolina?

On Behalf of | Jul 11, 2024 | Foreclosure/Repossession

Facing foreclosure in South Carolina can be overwhelming, but understanding your rights can help you navigate this challenging time. Understanding your entitlements during the process can make a significant difference.

Right to receive a notice of default

In South Carolina, your lender must provide a notice of default before initiating foreclosure. This notice gives you a chance to resolve the issue before legal proceedings begin.

Right to reinstate your loan

You have the right to reinstate your loan by paying the overdue amount, plus fees, to bring the loan current. This option is available before the sale of your home.

Right to redemption

Even after selling your home, you might have the right to redeem it by paying the full amount owed, including foreclosure and repossession costs, during a specific period after the sale that limits this right.

Right to a fair sale process

The authorities must conduct the foreclosure sale fairly. This includes proper public notice and conducting the sale at a courthouse and the process ensures transparency and a chance to get the best possible price.

Right to remain in your home

You can stay in your home until the authorities complete the foreclosure process and finalize the sale. Eviction can only occur after the new owner takes legal steps to remove you.

Right to legal recourse

You have the right to contest the foreclosure in court. You can seek legal remedies if you believe there was a mistake or that someone violated your rights.

Navigating foreclosure in South Carolina

Understanding your rights during foreclosure in South Carolina can help you make informed decisions and stay informed, seek advice, and explore all available options to protect your interests.