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foreclosure Archives

South Carolina bankruptcy does not always equal foreclosure

A sudden job loss or health concern can quickly alter one's financial picture. One day the South Carolina family is living comfortably in their home, bills are being paid and there is even money left over to enjoy the occasional splurge. The next day, tragedy strikes and the family's financial situation immediately changes. When this happens, the family may be faced with foreclosure unless they can find a way to restructure their financial obligations to allow for the home to be saved.

Foreclosure can be prevented for many South Carolina families

Once financial problems start, they just seem to escalate. At first, the South Carolina resident has trouble paying bills. Then, the phone starts ringing and collection notices appear in the mail. Finally, the bank or mortgage company threatens foreclosure. What began as perhaps a small financial problem can quickly turn into a financial catastrophe.

South Carolina residents facing foreclosure

One of the most coveted goals for South Carolina residents is owning a home. This American dream comes with a lot of rewards but also many responsibilities. As the excitement of being a homeowner wears off, the true cost of owning a home can sometimes come as a shock. South Carolina residents are advised to understand the risk associated with home ownership and what to do should their home become subject to foreclosure.

Facing foreclosure? In South Carolina, you have options

Whether it's where you brought your first child home or it's the dream house you bought after retirement, few things in life hold as many important memories as your home. For most people, a foreclosure is so much more than a financial crisis -- it is an emotional trauma. While stopping foreclosure might seem impossible, it is an important undertaking that can help South Carolina residents stay in their homes.

Alternatives to foreclosure exist for South Carolina homeowners

Homes are often the largest investment that people make. Aside from a significant financial commitment, owning a home also represents safety and security for many in South Carolina. When faced with significant amounts of debt and possible foreclosure, finding effective alternatives can be important. Giving in to foreclosure can have profoundly negative effects on a homeowner's credit and financial stability when done unnecessarily.

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.

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Reed Law Firm, P.A.
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Suite 301

Columbia, SC 29210

Phone: 803-726-4888
Fax: 803-726-4887
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Reed Law Firm, P.A.
1807 West Evans Street,
Suite B

Florence, SC 29501

Phone: 843-679-0077
Fax: 843-679-0667
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