Georgia foreclosures move fast because the lender does not need a court order. That makes the calendar the most important thing to understand. Here it is, plainly, with what you can still do at each point.
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After you fall behind, the servicer sends notices. Federal rules generally require the servicer to wait until a loan is more than 120 days behind before starting a foreclosure. Then the lender must send you written notice of the sale at least 30 days before the sale date.
The sale is advertised once a week for four weeks in the county's legal newspaper. Foreclosure sales happen on the first Tuesday of the month at the county courthouse.
Sources: O.C.G.A. § 44-14-162.2 (the 30 day notice), §§ 9-13-140 and 9-13-141 (four weeks of newspaper ads), § 9-13-161 (first Tuesday sales), and 12 C.F.R. § 1024.41 (the 120 day rule). This is general information, not legal advice. A HUD approved housing counselor or an attorney can advise on your case.
We are a real estate team, not a foreclosure rescue service, and we never charge a fee to talk.
What the house would net sold as is to a cash buyer, after the payoff, the past due amount, fees and closing costs.
What it would net listed, and whether the calendar leaves room for a listing at all.
If a sale makes sense, we plan it to the sale date and the servicer's timeline, not around them. If it does not make sense, we tell you that too.
Have the letters handy: the servicer's name, the amount behind, and any sale date in the notices. Other hard situations are on the situations page.
If someone asks for a fee before doing anything, walk away. HUD approved housing counselors help at no cost.
Do not sign your deed to anyone who says they will take over your payments. The loan can stay in your name while the house does not.
If someone offers to buy the house, put that offer next to real buyers. One offer from a stranger is a starting point, not a price.
The notices carry the dates that matter. Missing one can cost you an option you still had.
Both paths on one page: the price, the fees, the repairs, the days to close and the net at closing for each. Built from your house, current comparable sales, the offers we request for you and repairs priced by our contractors. No charge, no obligation.
Example numbers only. Fees vary by path and by house, and the net is shown before any mortgage payoff. Your report uses your house, current comparable sales, actual offers and actual repair estimates. The shaded cell is the leader on each line.
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Yes, as long as the sale closes before the foreclosure sale and the price covers the payoff, the past due amount, fees and closing costs. If it does not cover them, a short sale needs the lender's approval.
A sale that closes and pays off the loan before the sale date ends it, because the debt the foreclosure was meant to collect is paid. A signed contract alone does not. Tell your servicer as soon as you have one and ask whether they will postpone the sale. Source: O.C.G.A. § 44-14-162 and following, Georgia's power of sale rules. General information, not legal advice.
Often, but it depends on your lender, your loan and your plans. A HUD approved housing counselor can walk you through how each would affect you. We show you what each one would net.
It can happen. In Georgia, a lender that forecloses must have the sale confirmed by a court within 30 days to pursue a remaining balance. After a short sale, it depends on what you sign, so ask an attorney before you sign anything. Source: O.C.G.A. § 44-14-161. General information, not legal advice.
No. We request offers from cash buyers and our investor list and put them next to what a listing would net, so you see which one leaves you the most.
No. No fee for the numbers, no obligation, and never an upfront fee of any kind.
We will contact you the same day. No obligation, no fee for the report.