How will I know if a foreclosure sale of my South Carolina house has been scheduled?

According to Section 15-39-650 of the South Carolina Code, the county sheriff must publicly advertise any real estate up for a foreclosure sale once a week for three consecutive weeks prior to the sale date.  If the lender wishes to waive its right to pursue a deficiency judgment, the Notice of Sale must state that the bidding will not remain open for 30 days after the foreclosure sale.

 There are numerous requirements for notifying the owner and the general public about a foreclosure sale.  Below is the list of notices that must be made:

 –       The Court shall enter a judgment of foreclosure, which states the debt owed, a legal description of the property, the sale date and time, and the amount of the good faith deposit needed from a high bidder.

–       The sale date must be published at least once a week for three consecutive weeks in a newspaper of general circulation in the county.  The first publication must be at least 21 days before the sale date.  The advertisement, known as a Notice of Sale, must specify the property to be sold, the time and place of the sale, the property owner’s name and the bank’s name.

In some cases, not all of the owners signed a mortgage and note with the lender.  Even though some owners may not owe money to the lender, the house can still be foreclosed.

The foreclosure sale or tax sale will not come as a surprise, as the owner will have at least 21 days’ notice.  In most cases, they will be given even more than 21 days’ notice.

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