Failing to Comply with Orders Requiring Loan Modification
Consequences for Failing to Comply With Orders Requiring Loan Modification
Consequences for Failing to Comply With Orders Requiring Loan Modification
One of the most important hurdles facing a lender or servicer contemplating filing a claim against a policy for title insurance is whether or not the time frame for filing the claim under the applicable statute of limitations has expired. South Carolina Code section 15-3-530(1) provides for a three-year statute of limitations for actions based upon a contract. As such, the general consensus in South Carolina has been that this three-year time frame is the applicable statute of limitations for claims on policies of title insurance.