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Columbia South Carolina Bankruptcy Law Blog

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

Foreclosure remains a concern for many after the moratorium ends

While owning a home might be one of your long-term goals in life, it can also be a demanding endeavor that can carry a great deal of responsibility. Even if you can manage mortgage payments initially, should circumstances in life leave you facing substantial financial challenges, the fallout may prove disastrous.

The thought of losing your home to foreclosure can be a harrowing concept that may leave you in search of advice on how to prevent a similar outcome. Now that the federal financial moratorium is over, you might have questions about what this could mean for your situation and about your available options when behind on payments.

End of the moratorium

The federal foreclosure moratorium might have provided you with much needed relief during a difficult time, but now that it is over, you might have questions about what this might mean for your situation. Some topics to address regarding the end of the moratorium may include:

While there may be options available to help you catch up on missed payments, these might not always prove preferable, or even possible, and a more long-term solution could be necessary.

Knowing your options

There may be few things in life as stressful and daunting as the thought of losing your South Carolina home in foreclosure. With so much at stake, it could be in your best interests to seek insight on all your available options and on the next steps to take to safeguard your future interests. Such guidance could help you better prepare to choose the best path available to help you catch up on mortgage payments after exiting forbearance and create a strategy to mitigate similar risks in the future.

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