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

'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.

How Long Do I Have To Stop A Home Foreclosure?

In South Carolina, a lender will send you written notice of a home foreclosure by serving you with a summons and complaint. Once you receive these papers, you have 30 days to file an answer with the court. Even if you miss this deadline, however, you may still be able to save your home.

How To Avoid The Mortgage Modification Run-Around

You may be one of the tens of thousands of homeowners who tried to get a mortgage modification from your bank, only to receive the runaround. The longer the bank can drag its feet, the longer it can keep charging you the same high mortgage payments. One of the most common tactics is to ask you to resend the same documents over and over.

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

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