Foreclosure Home For Sale Real Estate Sign in Front of Beautiful Majestic House.

Loans to purchase real estate are generally secured by a mortgage. When you obtain a loan to purchase real estate, you sign a note setting forth the terms under which you have obtained the loan, and the terms under which you are to repay the loan. To insure that you do repay the loan, you sign a mortgage pledging your real estate as security for the loan. The mortgage provides that, in the event you do not make your payments, as agreed in the note, the lender has the right to foreclose on the mortgage and have your real estate sold at public auction by the court.

If you live in a subdivision with covenants and restrictions, your house and lot are subject to foreclosure if you fail to pay your homeowner association dues and assessments.

In South Carolina we have judicial foreclosures that require a hearing before a judge. As the property owner, you must be given notice of the court proceeding and you are allowed to present any defense you may have to the foreclosure proceeding.

Our team of attorneys has more than 50 years of experience in real estate law. If you need legal assistance with a foreclosure, make your first call to Babb & Bixler.