Foreclosure

Georgia Foreclosure: Can You Save Your Home?

As a Georgia homeowner who faces the threat of foreclosure, you’re likely stressed and confused about your options. Whether you accumulated debt slowly, due to medical bills and child care costs, or you lost your job unexpectedly, you would like straight answers about your options.

The Georgia foreclosure attorneys at Berry & Associates work with clients like you every day. We can answer your questions in simple, clear language and help you explore ways to save your home, prevent eviction, and rebound from your financial struggles.

The Lender’s Requirements for Georgia Foreclosure

Georgia is what’s known as a “non-judicial” foreclosure state. This means that your lender only needs to meet a few requirements to move forward with the foreclosure process. Here are the basic actions that the lender must take:

  1. Mail the homeowner a certified letter. This should reveal why the bank wants to foreclose, what the homeowner must pay to stop the process, and when the foreclosure sale will happen. (Ignoring this certified letter does not constitute a defense. It’s uncomfortable to confront the reality of an imminent foreclosure. But the faster you respond, the better your odds of keeping your home.)
  2. Run an ad in a Georgia newspaper for four weeks, publishing the foreclosure sale.
  3. On the first Tuesday of the month after the ads have run, the lender can go to the courthouse to offer your property for sale.

How Can Bankruptcy Stop Foreclosure?

Whether you are in Atlanta, Marietta, Rome, or any other Georgia city, when you file for Chapter 7 bankruptcy (“liquidation”) or Chapter 13 bankruptcy (“reorganization”), the Court will immediately put what’s known as a “stay” on your creditors.

Whether you owe money to a credit card company or mortgage lender, the bankruptcy filing will temporarily prevent these entities from trying to collect debts or sell your home out from under you.

Your Georgia bankruptcy lawyer will then communicate with the lender, who must stop the sale. This is only a temporary break, however. You’ll still need to address the more core issues, which you can do by obtaining a loan modification, stripping a second mortgage, or developing a more realistic payment plan. Bankruptcy offers the opportunity for a fresh start, which is why so many individuals and families have taken advantage of it over the past 5 years.

Answers to Your Georgia Foreclosure Questions

Contact the experienced North Georgia bankruptcy attorneys at Berry & Associates for a thorough, confidential consultation about your foreclosure options. Call us at (877) 815-0306, or email our team at georgiadebtlaw@mattberry.com to get the help you need. We serve homeowners in Newnan, Gainesville, Cartersville, Atlanta, and all across North Georgia from our 11 offices.