I Need Help With My Georgia Foreclosure

Purchasing a home in Georgia these days requires that you either have a few hundred thousand dollars just sitting in the bank, or that you get a mortgage. Mortgages are really the only way the average person can afford to own their dream home. The bad thing about mortgages is that if you do not pay your monthly balance, you end up looking for help with Georgia foreclosure problems. If you came here looking for foreclosure help, Georgia homeowners, you have come to the right place.

The first thing to try to do is to stay out of foreclosure in the first place. If you pay your monthly bills on time, you will build up equity in your home, and your credit will rise as well. The better your credit is, the better off you are for future loans or mortgages. Things happen, however, that we don’t expect, and you end up needing help with Georgia foreclosure proceedings.

Georgia is what is called a “title theory” state. This means that the lender that gives you your mortgage actually owns the deed until you have fully paid off the mortgage. In Georgia law, the mortgage lender must first make sure that you are notified, by certified mail, that they intend to foreclose on your home. The lender must then post, for four weeks, their intent to foreclose on your home. At this point, the only option you have for help with Georgia foreclosure, when it comes to dealing with the lender, is to give them your home, peacefully. You may end up with bad credit, and you definitely would have no money to show for it. The lender would then put your home up for sale and make a huge profit.

Once they have notified you of their desire to foreclose, you have very few options for foreclosure help, Georgia residents. If you have a huge sum of money in the bank, or are able to sell a vehicle or obtain a large sum of money by some other means, then you will probably be okay. You can just give the lender the amount they have requested, which is sure to include various fees and tons of interest.

Another option you have, if you are looking for help with Georgia foreclosure issues, is to sell your home. Selling your home the traditional way, through a “for sale” sign on your front yard, or through a realtor, can take a long time. People have had their homes for sale for months, even years sometimes, before they have even gotten a nibble. There are companies, however, that take that sort of hassle away. They purchase your home outright, which allows you to not have to worry about how long the sale will take. The company gives you fair market value for your home, which gives you the ability to pay off your mortgage, including the back amount owed, and exit the situation with your credit fairly intact. You can then take any of the leftover money from the mortgage and purchase another home, where, hopefully, you will not have to worry about foreclosure again.

John Panico is the author of this article. John is an active investor of properties throughout NE Georgia. He is the General Manager of Local Guys Equities, LLC, one of the fastest growing real estate investment companies in Georgia. John founded the NE GA Real Estate Buying & Investing Group and wholesales properties to real estate investors around the country. Feel free to contact John about selling your house or other information.

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