Jump to Navigation
We can handle your closing anywhere in the state.
Subscribe to This Blog's Feed

South Carolina in the top 9 states for most foreclosures

Foreclosures are still high in some states, making it clear that the recession is not completely over. The so-called foreclosure crisis in the states is now slowing and becoming a thing of the past, but for some areas, it still persists. If you're facing foreclosure, then you know part of the battle is being able to sell your home before you get to a point where you can't pay for it, or, if possible, you want to enter bankruptcy and protect your home until its value increases. The foreclosure information released has some good news, but foreclosure is still common in South Carolina.

It's true that fewer homes are entering the foreclosure process than before the housing bubble burst, and the number of people entering foreclosure is at a 10-year-low. Even though this is the case, it's still taking a long time for courts to process these bad loans, taking as long as an average 629 days for each foreclosure to close.

It can take years to rebuild damaged credit from a foreclosure, but with a plan of action, you can start rebuilding your credit as soon as you're through foreclosure or bankruptcy. Over time, you can build your credit back up to a point where you can get another mortgage or loan, so you don't have to stay out of the housing market forever.

South Carolina made the top nine states for foreclosures between May and June. There were a total 11,479 foreclosures filed, making the rate of foreclosure one person out of every 187. The number of foreclosures in the state has dropped by 13 percent since 2014, showing improvement in the state overall.

Source: USA Today, "States where foreclosures are stubbornly high," Christine DiGangi, July 19, 2015

No Comments

Leave a comment
Comment Information
Tell Us About Your Transaction

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close
Visit Weeks & Irvine at One of Our Six Locations

North Charleston office 8086-B Rivers Avenue
North Charleston, SC 29406
Phone: 843-553-9800
Toll Free: 800-553-7449
Fax: 843-553-9804
Maps and Directions

Mt. Pleasant office
1100 Queensborough Blvd, Suite 102
Mt. Pleasant, SC 29464
Phone: 843-856-9800
Toll Free: 800-553-7449
Fax: 843-216-0930
Map and Directions

Mt. Pleasant North office
3040 Highway 17-A North, Suite B
Mt. Pleasant, SC 29466
Phone: 843-388-3250
Toll Free: 800-553-7449
Map and Directions

West Ashley office
873 Orleans Road, Suite 102 1/2
Charleston, SC 29407
Phone: 843-571-2996
Toll Free: 800-553-7449
Fax: 843-571-2998
Map and Directions

Summerville office
106 West 7th North St
Summerville, SC 29483
Phone: 843-875-7111
Toll Free: 800-553-7449
Fax: 843-875-7721
Map and Directions

Goose Creek office
567 Crowfield Blvd.
Goose Creek, SC 29445
Phone: 843-553-9100
Toll Free: 800-553-7449
Fax 843-553-9183
Map and Directions