According to information in the Columbia Business Report, South Carolina saw decline in foreclosure filings from March to April, 2009.  The information reported was based on data released by RealtyTrac.  The data further indicated that one out of every 876 homes in South Carolina was in some state of foreclosure in April as compared to one in 855 in March.  Nationally, one in every 374 homes is in foreclosure.

South Carolina reported a 2.41% decrease in the number of foreclosures during the month while nationally, foreclosure filings showed less that 1% increase. REO's (property repossessed by banks) showed a decline nationally, reporting the lowest number since March 2008.  

A similar decline was reported in South Carolina, down to 697 in April from the 812 reported in March.  “This suggests that many lenders and servicers are beginning foreclosure proceedings on delinquent loans that had been delayed by legislative and industry moratoria,” said RealtyTrac CEO James J. Saccacio. “It’s likely that we’ll see a corresponding spike in REOs as these loans move through the foreclosure process over the next few months.”

Below are foreclosure numbers in selected counties in South Carolina

RealtyTrac, www.realtytrac.com

Bruce and Mary are South Carolina REALTORS® specializing in Savannah Lakes Village, a planned retirement and second home golf and lake front community in McCormick County, South Carolina



Bruce & Mary Smith "Decline Reported in Foreclosures in South Carolina"