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What is foreclosure Judgement?
“Summary judgment” is a judgment in favor of the foreclosing party (called the “bank” in this article) after a borrower formally responds to a foreclosure lawsuit, but the response doesn’t raise any valid issues or defenses. Once the bank gets summary judgment, it can proceed with a foreclosure sale.
Can a judge deny a foreclosure?
If the court determines that you don’t have evidence supporting a defense, the lender will win the motion, get a judgment of foreclosure, and be able to go forward with a foreclosure sale. If the judge denies the lender’s motion, the court will allow the case to proceed to trial.
Does South Carolina have a redemption period after foreclosure?
In foreclosure cases, some states give borrowers a ‘right to redemption’. Essentially, redemption is the ability of a borrower to buy back a property that has been foreclosed upon even after the foreclosure sale has already been completed. However, there is no right to redemption in South Carolina.
What happens if you miss a settlement conference?
WHAT HAPPENS IF A PARTY DOES NOT ATTEND? If a Defendant does not attend a Settlement Conference, the Judge may order what the Claimant is seeking. If the claim is for a debt, the Judge could make an Order for the amount claimed. If the Claimant does not appear, the Judge may make an Order dismissing the claim.
How do you beat a house foreclosure?
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- Reinstatement. Ask the lender to reinstate the loan.
- Forbearance Agreement. Ask the lender to forgive the debt.
- Refinance.
- Sell your home.
- Short Sale.
- LLoan modification.
- Deed in Lieu of Foreclosure.
- Rescission of loan.
How do you stall a foreclosure?
You can stop a foreclosure in its tracks—at least for a while—by filing for bankruptcy. Filing for Chapter 7 bankruptcy will stall a foreclosure, but usually only temporarily. You can use Chapter 7 bankruptcy to save your home if you’re current on the loan and you don’t have much equity.