Legal Question in Credit and Debt Law in South Carolina

Re: execution of judgment

It's impossible to give you a complete answer without looking fully at your case (the underlying lawsuit, the order or verdict, and the underlying loan documents), but essentially, when we're concerned about execution on property to pay judgments against us, we're only concerned about ownership of the property. The fact that there's a mortgage on the property is relevant only in that it must be satisfied first, generally, as a prior perfected lien against the property. However, the SC General Assembly recently passed an increase in the homestead exemption value from $5000 to $50,000. This, coupled with the existing mortgage, could offer some protection. You should see an attorney immediately. Feel free to call me at the number below. Bankruptcy can also stop the execution on the home and could be a solution for you.