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Foreclosure Survival Guide
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Foreclosure Survival Guide (1st Edition)
| Topic | State Rule |
|---|---|
| Common type of foreclosure process | Judicial |
| Time to respond | After foreclosing party files lawsuit, homeowner has 20 to 30 days to respond. After court issues a foreclosure judgment, foreclosing party must publish notice of sale and also post it in three public places three weeks before the sale. |
| Reinstatement of loan before sale | No |
| Redemption after sale | No |
| Special protections for foreclosures involving high-cost mortgages | Some weak protections, but not likely to provide a defense against foreclosure. South Carolina High-Cost and Consumer Home Loans Act, S.C. Code Ann. §§ 37-23-10 to 37-23-85 |
| Special state protections for service members | None |
| Deficiency judgments | Allowed as part of the foreclosure lawsuit |
| Cash exempted in bankruptcy | $5,000 for one person, $10,000 for a married couple |
| Notice to leave after house is sold | Former owner entitled to 10 days’ notice of termination. S.C. Code Ann. §§ 27-37-10 to 27-37-160 |
| Foreclosure statutes | S.C. Code Ann. §§ 15-39-610, 29-3-630 to 29-3-790 |