Several counties in northern South Carolina that saw record high foreclosure numbers in the fall of 2011 are expected to experience even more foreclosures as 2012 progresses. The area also has a high number of homes in which borrowers are extremely delinquent or foreclosed homes that have not yet been listed for sale. It is common for foreclosures to remain in the system for an extended period of time before being released.

South Carolina's Lancaster, York and Chester counties saw a combined total of 299 foreclosures in October and 266 in November. According to foreclosure listing website RealtyTrac, these are the counties' highest foreclosure numbers since 2008, when the poor economy and excessive amounts of bad loans prompted foreclosures to begin rising. These numbers are expected to continue rising as it becomes more difficult for many South Carolina residents to fight foreclosure.

A judge responsible for hearing South Carolina foreclosure cases said that the number of homeowners facing foreclosure that show up in court to contest the filing has dropped to about one in every five. "People don't have jobs," the judge explained. "They can't pay anyone; that's the problem."

The judge added that not all of the foreclosures are a result of unemployment, as lenders are becoming increasingly cautious due to the "robo-signing" scandal, in which it was discovered that some banks processed foreclosure paperwork without reading them or verifying information. Additionally, the chief justice of the South Carolina Supreme Court ordered that lenders must ensure that homeowners are given the opportunity to modify their loans before taking action against them. This has resulted in a large backlog of foreclosures.

These foreclosures in the Charlotte area are not close to Charleston, but Charleston homeowners in the same position should know there are options out there to fight foreclosure, such as getting a mortgage modification.

Source: WSOC TV, "Home foreclosures expected to continue rising in local counties," Jan. 6, 2012