New information from foreclosure research firm RealtyTrac shows that South Carolina's foreclosure rate in 2011 was roughly similar to that of the entire country. Nationally, approximately 1 in every 69 homes was the target of foreclosure in 2011, while South Carolina saw a total of 29,931 foreclosures, for a rate of 1 in every 70 homes. One in every 600 South Carolina homes was under some type of distress, totaling 3,472 properties.

Within South Carolina, Dorchester and Richland counties saw the highest foreclosure rates, while Charleston, Greenville and Richland counties had the highest overall number of homes in foreclosure. The Charleston metro area had a total of 3,097 foreclosures in 2011, for a rate of 1 in 57.

Overall, foreclosures decreased in 2011 when compared to 2010. December 2011 saw 205,024 foreclosures, a decrease of 9 percent from November and a decline of 20 percent from December 2010. This marked the nation's lowest total monthly foreclosures in 49 months. In total, 2011 experienced roughly 34 percent fewer foreclosures than 2010.

Despite the ongoing drop in foreclosures, RealtyTrac's CEO explained that lenders pushing foreclosed homes through the system could prompt an increase in 2012. He said that RealtyTrac's data suggested an increase in the number of foreclosures processed by lenders in "select local markets." He added that while he sees foreclosures increasing in 2011, the numbers will still be lower than 2010, a good sign for weary homeowners.

But national trends can be of little solace to underwater homeowners facing foreclosure. There are options available to help struggling homeowners stay in their homes, such as negotiating a mortgage modification with the lender.

Source: Charleston Regional Business Journal, "S.C. foreclosure rate in 2011 tracks with national figures," Lauren Ratcliffe, Jan. 12, 2012