Greenville Foreclosures
“Court has no discretion”?
Hi, thanks for taking the time to read this question. In a summary titled, ”Deficiency Judgments In Foreclosure Transactions” relating to South Carolina, author T. Eugene Allen III of Nexsen, Pruet, Jacobs and Pollard (Columbia, Charleston, Greenville, SC) states that a ”Mortgagee whos debt remains unsatisfied after sale of mortgaged property ‘is entitled to a deficiency judgement…’ Court has no discretion in the matter.”. In stating that the ”court has no discretion in the matter”, is it implied that after a deficiency judgment is entered, the mortgagee will have the full responsibility of collecting the unsatisfied debt? Thanks again for your attention to this question; I appreciate any and all knowledgable answers.
In this context, the statement that the court has “no discretion” means that the court must enter the deficiency judgment. Ordinarily, in most contexts, the court has some discretion to weigh the law and facts, and reach a conclusion. This summary is indicating that under South Carolina law, if a mortgaged property is sold, and the bank (or other lienholder) hasn’t been fully paid off, the court must automatically enter a judgment allowing the lienholder to collect the remainder of the deficiency. Collection of judgments is a complicated subject. Generally speaking, a person who wins a judgment is always responsible for collecting. If you don’t take any action on the judgment – nothing happens. However, you are entitled to get the assistance of the state in collecting, e.g. getting the sheriff to foreclose on other property, etc. It is best to consult an attorney or judgment collector in your jurisdiction who is knowledgeable about the law in this area, which can be quite complex.
GREENVILLE Foreclosures, HUD Owned Home for Sale – 5024 KATZENBERGER R, 45331
