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Homeowners/Bonneau, SC/Reverse Mortgage

Reverse Mortgage Issues in Bonneau, SC

Reverse mortgage issues in Bonneau, SC require understanding heir timelines, non-recourse protections, and HECM counseling requirements. Find local elder law attorneys and HUD counselors.

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Situation overview

Reverse mortgage issues in Bonneau, SC often arise when the borrower dies or enters long-term care. Under SC law (SC Code Title 29, Chapter 4), reverse mortgage applicants must receive independent counseling through the SC Housing Finance Authority. Heirs have 6-12 months to act, and HECM loans are non-recourse.

What to do first

Reverse mortgages become urgent when the borrower dies, moves to long-term care, or falls behind on taxes and insurance. Heirs have 6-12 months to act, and understanding the non-recourse protection prevents overpaying.

Start with

  1. Notify the loan servicer within 30 days of the borrower's death and request extension deadlines in writing.
  2. Get a current appraisal — heirs can pay off the loan at 95% of appraised value if it is less than the balance.
  3. Consult an elder law attorney about Medicaid lookback rules if the borrower is entering a nursing facility.

Avoid

  1. Assume heirs are personally liable for the reverse mortgage balance — HECM loans are non-recourse.
  2. Wait beyond 30 days to contact the servicer — delays can trigger accelerated foreclosure timelines.
  3. Make decisions without understanding the 12-month occupancy rule for borrowers in care facilities.

SC law reference

Key legal facts for reverse mortgage situations in South Carolina.

Foreclosure type
Judicial foreclosure via Court of Common Pleas unless non-judicial power of sale is expressly authorized.

Step-by-step action plan

A starting path you can follow before committing to any contract or agreement.

  1. Contact a HUD-approved HECM counselor to understand your options — required for any reverse mortgage action.
  2. If you are an heir, notify the loan servicer within 30 days and request the full payoff amount.
  3. Consult an elder law attorney before making decisions about the property, especially regarding Medicaid implications.

Who to contact in Bonneau

Reverse Mortgage and Probate Attorneys

Williams & Hulst, LLC

John B. Williams and Jary Hulst bring over 50 years combined experience in estate probate, wills, trusts, and estate administration. Williams served as a South Carolina Circuit Court Judge (1998–2002) and former state legislator (1988–1992).

Williams & Hulst estate services

Martin G. Murphy Jr., Attorney at Law

Moncks Corner attorney with 13 years of estate planning experience. Practice areas include estate planning, criminal defense, and personal injury. Office at 400 Altman Street, Suite E, Moncks Corner.

Martin Murphy estate planning

Biering Law Firm, P.C.

Christopher Biering established his Moncks Corner practice in 1998 after graduating from USC School of Law in 1996. Handles probate and estate planning alongside family law matters. Member of the South Carolina Bar and Berkeley County Bar Association.

Biering Law Firm probate services

Senior Support Resources

Trident Area Agency on Aging

Regional aging-resource coordination, caregiver support, Medicare counseling, and long-term-care navigation for Berkeley, Charleston, and Dorchester counties. Serving seniors since 1991.

(843) 554-2275

5895 Core Road, Suite 419, North Charleston, SC 29406

Trident Area Agency on Aging

HUD and Homeownership Counseling

HUD National Counselor Hotline

Referral line for HUD-approved housing counselors serving Bonneau and Berkeley County homeowners facing mortgage hardship.

Find a HUD counselor

HOPE Homeowner Hotline

Free 24/7 foreclosure prevention counseling and mortgage assistance referral service available to Berkeley County homeowners.

HOPE homeowner hotline

State and Local Hardship Support

Call 211

Local referral line for utility, food, and emergency financial assistance programs.

Dial 211

Free and Low-Cost Legal Aid

South Carolina Legal Services — Charleston Office

Free civil legal aid for qualifying low-income residents in Berkeley, Charleston, and Dorchester counties.

(843) 720-7044

701 East Bay Street, Suite 312, Charleston, SC 29403

SC Legal Services Charleston

Reverse Mortgage Real Estate Agents in Bonneau

Chamiese Evans — Licensed Realtor

Specializing in helping Bonneau homeowners navigate reverse mortgage situations — whether that means selling, negotiating, or exploring every option before making a decision. NorthGroup Real Estate.

Visit listrobin.com

Common questions

What happens to a reverse mortgage when the borrower dies in Bonneau?

Heirs have 6 months (with up to two 90-day extensions) to pay off the loan — by selling the home, refinancing, or paying the balance. Under federal non-recourse rules, heirs never owe more than 95% of the home's appraised value, even if the loan balance is higher.

Can I sell a home with a reverse mortgage in Bonneau?

Yes. The reverse mortgage is paid off from the sale proceeds at closing, just like any other mortgage. If the home value exceeds the loan balance, the remaining equity goes to the borrower or heirs.

What if the reverse mortgage borrower moves to a nursing home?

If the borrower is absent from the home for more than 12 consecutive months and no co-borrower lives there, the loan becomes due and payable. Document intent to return and communicate with the servicer to explore deferral options.

Related situations in Bonneau

Homeowners dealing with reverse mortgage often face overlapping issues. These resources may also help.

InheritanceProbateMedical Hardship

Reverse Mortgage in other cities

Researched by CC Evans, Marketing Analyst — RobinOffer

Last reviewed: February 2026

This directory is for informational purposes only. It does not constitute legal, financial, or tax advice. Confirm all options with licensed counsel or a qualified financial professional before signing any agreement.

Sources: SC Code of Laws · HUD.gov · CFPB.gov

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