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There is no law in South Carolina that require mortgage lenders to respond to inquiries within 48 hours or to accept any amount less than the full amount of the mortgage, plus any late fees, interest and other legal costs.
What is the current market value of the condo?
What is the amount of the mortgage lien?
Thank you for your follow up.
Unfortunately, generally, if there is enough equity in the condo to cover the entire mortgage balance, in most cases, the mortgage lender will not accept any less than the full amount owed on the mortgage, but if the person who purchases HOA lien does not pay off the entire mortgage amount, then mortgage company will simply foreclose on the condo and will sell condo at a foreclosure auction.
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