Home > Regional Interest > United States > Georgia > Georgia Foreclosure Recovery


Trisha Schulz

Guide to Georgia Foreclosure Recovery

Finding Georgia foreclosure recovery resources in time of crisis


Extremely
Useful
8.0
out of 10

Add Your Comments
 
 
Email Guide to Georgia Foreclosure Recovery to a friend
Save the Guide to Georgia Foreclosure Recovery to My Work.com Favorites
Print the Guide to Georgia Foreclosure Recovery
link to this page
Save to del.icio.us
digg it!


Georgia foreclosure help can be a saving lifeline when facing the possibility of losing your home. If you encounter foreclosure, you are not alone. Georgia ranks as the third highest foreclosure state in the nation with a rate of 1 out of 138 homes foreclosed.

It's important for default homeowners not to panic. Several options exist to help distressed homeowners overcome foreclosure, even halting the process before damaging their credit.

If you fear foreclosure looms near, consider the following Georgia foreclosure information:

1. Trouble can brew as soon as you miss a single payment. According to Georgia foreclosure law, lenders may not contact you until you've skipped a second payment, but most will report every delinquency to the credit bureaus. Even a single late payment can jeopardize your credit score.

2. Lenders themselves can offer a variety of options when it comes to foreclosure help in Georgia such as temporarily reducing payments or setting up a short-term repayment plan with different conditions to make up the default amount.

3. From working with a Georgia foreclosure attorney to engaging a loss mitigation specialist, there are options. Don't lose hope. There's still time to save your home up until foreclosure sale.

Action Steps
The best contacts and resources to help you get it done

Study foreclosure laws in Georgia


Typically, once a homeowner's mortgage is 90 days past due, a lender will issue a notice of default. Then they will begin the foreclosure process in the court system. The foreclosure must follow a strict procedure laid out by Georgia foreclosure laws.

I recommend: Research the Georgia foreclosure laws that affect you at Advantage Mitigation Services. Find additional information at Homestead Protection Services.

Watch out for mortgage recovery scams


The Federal Trade Commission warns that there are plenty of bad guys operating in the foreclosure recovery business who will take your money and provide no service. Some warning signs, according to the FTC: advertising terms like "guarantee" and "97% success rate", upfront fees before services and company names or websites designed to make you think you're dealing with a government or nonprofit agency.

I recommend: Educate yourself about foreclosure recovery scams through the Federal Trade Commission.  The FTC recommends you only seek foreclosure help from government sanctioned counseling agencies like the ones recommended by the U.S. Department of Housing and Urban Development or the federal Making Home Affordable program.

Tips & Tactics
Helpful advice for making the most of this Guide

  • It may be helpful if you try to negotiate directly with the lender yourself, especially if the bank has not yet hired an attorney to begin foreclosure proceedings. Successful negotiating before the process even begins can save a lot of money. But don't take too long. If a deal isn't worked out within two weeks, your lender most likely isn't serious about working with you directly.

The official source of Georgia Foreclosure Recovery is
the Georgia Foreclosure Recovery page at Business.com


Featured Vendors

Modify Your Existing Mortgage Loan and Cut Your Payment
Lower your interest rates now. Cut your payments and avoid Foreclosure without Refinancing. Compare Price Quotes from Multiple Companies.
www.AllOptions.com

Find Georgia Foreclosure Listings
Find foreclosed homes at 50% off. Homes selling for as low as $10,000. Pay $1 to get Georgia Foreclosure Listings.
www.HUDforeclosed.com

Georgia Foreclosure Listings For Free
Search Georgia Foreclosure Listings For Free! Compare Foreclosed Home Prices Online To Save Up To 50% On Your Next Home!
www.foreclosedhousesearch.com

Prevent Foreclosure Resources
Looking for Prevent Foreclosure Resources? Discover listings and reviews of specialists or services in your local area today.
JustClickLocal.com

Sign up for the What Works for Business weekly e-newsletter!
 Related Resources from Business.com Back to top 
  CommentsBack to top 

Loading Comments...


Add Your Comments


Email Guide to Georgia Foreclosure Recovery to a friend
Save the Guide to Georgia Foreclosure Recovery to My Work.com Favorites
Print the Guide to Georgia Foreclosure Recovery
link to this page
Save to del.icio.us
digg it!


Is any content on this page inappropriate? To let us know, please click here.

Ads by Google







© 2009 Work.com, Inc. All Rights Reserved. Work.com is a property of Business.com.
Help | About Us | Site Map | Terms of Use | Privacy Policy | Community Policy | Taskonomy | Advertise | Contact Us | Local Business Directory | Work.com Feed