How to Avoid Foreclosure in Columbia, South Carolina

If you're behind on your mortgage payments in Columbia, South Carolina, you're not alone — and you have more options than you might think. Foreclosure is a serious situation, but acting quickly can help you protect your credit, keep money in your pocket, and move forward with dignity.

How Foreclosure Works in South Carolina

South Carolina is a judicial foreclosure state, which means your lender must file a lawsuit and get a court order to foreclose. This actually works in your favor because it gives you more time and opportunities to stop the process.

The typical timeline:

• Missed payments: After 3-6 months of missed payments, the lender files a foreclosure complaint
• Court process: You have 30 days to respond to the complaint
• Judgment: If the court rules for the lender, a sale date is set
• Auction: The property is sold at a courthouse auction
• Total timeline: 6-12 months from first missed payment to auction

Option 1: Sell Your Home Before Foreclosure

The single best option for most homeowners is to sell the house before the foreclosure is finalized. This allows you to:

• Pay off your mortgage balance
• Potentially walk away with cash
• Avoid a foreclosure on your credit report (which stays for 7 years)
• Maintain your ability to buy another home in the future

Campos Property Solutions buys homes in pre-foreclosure in Columbia, West Columbia, Lexington, and surrounding areas. We can close in as little as 7 days — often fast enough to stop the foreclosure process entirely.

Option 2: Loan Modification

Contact your lender and ask about loan modification programs. Many lenders would rather modify your loan than go through the expensive foreclosure process. Options may include reducing your interest rate, extending the loan term, or adding missed payments to the end of the loan.

Option 3: Forbearance Agreement

A forbearance agreement temporarily reduces or suspends your payments, giving you time to get back on your feet. This works best if your financial hardship is temporary — a job loss, medical emergency, or other short-term situation.

Option 4: Short Sale

If you owe more than your house is worth, a short sale allows you to sell for less than the mortgage balance with the lender's approval. This is better for your credit than a foreclosure but requires lender cooperation and can take months.

Option 5: Bankruptcy

Filing for bankruptcy triggers an automatic stay that temporarily stops foreclosure proceedings. Chapter 13 bankruptcy may allow you to catch up on missed payments over a 3-5 year repayment plan. This is a serious step with long-term consequences — consult a bankruptcy attorney.

Free Resources in Columbia, SC

• SC Housing Homeowner Assistance Fund — may cover past-due mortgage payments for eligible homeowners
• HUD-approved counseling agencies — free foreclosure prevention counseling at 800-569-4287
• SC Legal Aid — free legal assistance for qualifying residents

Don't Wait — Act Now

The most important thing you can do is take action immediately. The longer you wait, the fewer options you have. If you want to explore selling your Columbia home quickly to avoid foreclosure, call Campos Property Solutions at 803-307-4860. We'll give you a fair cash offer and can close on your timeline.