Reed Law Firm, P.A. is a federally designated debt relief agency. We proudly help people file for bankruptcy relief under the U.S. Bankruptcy Code.
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foreclosure Archives

Former posh, now defunct resort headed to foreclosure

A creditor appears to be holding all the cards regarding a South Carolina luxury resort that was created by Citadel graduate and author Pat Conroy in the 1980s. The resort is said to currently hold a mere $18 in its bank account. The foreclosure process was initially paused and the property made available to potential buyers in a short sale auction; yet, no one has come forward to submit a formal offer.

Risking foreclosure to pay other debts in South Carolina

After hearing the details of discipline and sacrifice some people make to become debt-free, those who struggle with debt may feel inspired to take their own drastic steps. However, this often means taking out a second mortgage to consolidate loans. Doing so may lead to foreclosure because it doesn't eliminate the problem; it just moves it to another creditor. South Carolina residents struggling with debt may consider alternative actions to save their homes.

'Extreme Makeover' family home now in foreclosure

Fans of TV home makeover shows enjoy watching the big reveal, when the old home is barely recognizable after the renovators and designers complete their work. Viewers in South Carolina may imagine that owning such a home would be a dream come true, and the stunned and excited expressions of the show's homeowners seem to confirm that. However, what viewers may not realize is that many of the people presented on these shows end up in foreclosure.

Columbia, South Carolina seeing reduced foreclosure rates

Owning a home is something many people aspire to. Being free from the scrutiny of landlords or independent of family members takes on a new meaning after closing day when a new homeowner accepts the keys – and the responsibilities – of a home in Columbia, South Carolina. Whether one has not budgeted properly or has faced a financial crisis, arriving at a payment date without enough funds for the mortgage can be the beginning of a long nightmare.

Foreclosure defense attorney can offer hope for the future

First, the bad news: Bankruptcy still carries a certain stigma, and it will certainly leave a mark on your credit score. Here's the better news: Bankruptcy could save your house from foreclosure, and a South Carolina foreclosure defense attorney can guide you through the process. If you have received notice that the bank is foreclosing on your house, you may be eager to hear some good news on that front.

Columbia, South Carolina borrowers may avoid foreclosure

Falling behind on one's mortgage payment can create a snowball effect of debt piling on debt. Sometimes a medical emergency or other financial loss create a shortfall from which the homeowner simply cannot recover. Columbia, South Carolina residents may feel they have no options when they receive the letter from the mortgage holder saying that the foreclosure process is pending. However, there are alternatives that may bring relief to many.

Foreclosure defense attorney may prevent loss of home in Columbia

When people gather around a settlement table to purchase a new house, they are usually excited at the thought of spending the coming years fixing it up, raising a family and making it a home. The thought of needing a Columbia, South Carolina, foreclosure defense attorney may rarely come to mind. Until one is nearing the possibility of losing that home, he or she may not consider the effects of foreclosure.

Bankruptcy could help South Carolina residents facing foreclosure

Buying a home is a significant accomplishment for many individuals. However, that accomplishment is often not completely achieved until mortgage payments are completed, and unfortunately for some, falling behind on payments could cause a serious issue. If South Carolina residents miss multiple payments and find themselves owing a considerable amount, their homes could face foreclosure.

South Carolina residents may not want to fear bankruptcy

Having fears when it comes to filing for bankruptcy is understandable. Many South Carolina residents may worry that in dealing with their debt balances they will lose all of their possessions and be unable to regain credit in the future. Luckily, these issues are not necessarily true. Even individuals who file for Chapter 7 liquidation bankruptcy will likely not lose everything.

Forbearance may affect bankruptcy filings in South Carolina

When individuals are facing financial difficulties and have payments to make to lenders, they may consider entering into forbearance. Forbearance is a type of deferred payment plan that allows South Carolina residents and other individuals to make their payments at a later date than originally intended. While this option may be beneficial to some individuals, forbearance could have an effect on a bankruptcy filing.

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Reed Law Firm, P.A.
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Reed Law Firm, P.A.
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Florence, SC 29501

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