South Carolina Real Estate Foreclosures: Answers to frequently asked questions.
What is a lis pendens?
Latin meaning “suit pending;” a document alerting anyone who checks the property’s title that a lawsuit has been filed.
What is a Master-in-Equity?
“…a judge who has the power to decide certain cases without a jury. A Master-in-Equity typically handles cases involving real estate…” Source: S.C. Judicial Dept.
What is a Deficiency Judgment?
In a foreclosure transaction, the lender may ask for a deficiency judgment against the borrower, aka a personal judgment. It’s the difference between what the property sold for at the foreclosure sale and what is owed.
What can you expect in a foreclosure action? Detailed answers to these questions and more from the Supreme Court of South Carolina.
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