South Carolina Foreclosure Laws
TYPES OF FORECLOSURE:
Judicial foreclosure is used exclusively in South Carolina.
Deficiency: The lender may pursue a deficiency. The judge, the lender, and the borrower all employ an appraiser to determine the value of the property. The full value of the property is subtracted from the amount owed to determine if a deficiency is allowable.
Redemption: No right of redemption in South Carolina.