Finance

South Carolina primarily uses deeds of trust for mortgage financing. Which type of foreclosure is associated with deeds of trust?

AStrict foreclosure
BNon-judicial foreclosure (power of sale)✓ Correct
CJudicial foreclosure only
DForeclosure by advertisement

Explanation

Deeds of trust typically allow non-judicial (power of sale) foreclosure, which is faster and less costly than judicial foreclosure. South Carolina also allows judicial foreclosure on deeds of trust.

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