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South Carolina has drop in foreclosures, falls under U.S. average

If you're living in South Carolina and face foreclosure, you're not alone. While the economy is improving, many people in the state are still filing foreclosure papers. South Carolina is once again falling below national averages when it comes to foreclosure filings. According to the news from Oct. 16, foreclosure filings in South Carolina dropped 11 percent from August and 23 percent from September, but that's still not holding up to the economic growth in the other parts of the United States. South Carolina had approximately one foreclosure filing for every 1,069 households.

The place with the most foreclosure filings was Dorchester County. There was one filing for every 477 housing units, the news reported. The next highest county for foreclosures was Richland County, with York County falling after that. Cherokee County has been in a good position, with only one foreclosure filing for every 5,986 household units.

The U.S. has seen a 9 percent decrease in filings month over month. Currently, the U.S. averages one foreclosure filing for every 1,232 houses. That's a 98-month low, RealtyTrac reports. Unfortunately, not all of South Carolina is doing well when it comes to foreclosure filings. Greenville County still struggles, with one in 849 units going into foreclosure. South Carolina currently has the tenth-highest foreclosure rate in the U.S.

If you're facing foreclosure, you may want to consider your legal options before you file. There may be ways that you can stay in your home, helping you be where you want to be while you get your life back on track.

Source: GSA Business, "S.C. foreclosure filings above national average despite 11% decrease" Oct. 16, 2014

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