Unlike some states, in Georgia, a lender may foreclose on a home without filing suit or appearing before a judge. This process, known as “non-judicial foreclosure,” is described in detail below.
The Georgia foreclosure process begins when a borrower defaults on his or her loan. In most cases, a default is a failure to make payments on a loan. Following a default, the mortgage holder sends the borrower a notice of intent to foreclose. Georgia law requires that a borrower be given notice at least 30 days before a proposed foreclosure sale date. This is significantly less time than some other states, making it imperative that an experienced Georgia foreclosure attorney be contacted as soon as a foreclosure notice is received.
Foreclosure Notice Details
In Georgia, a foreclosure notice must be in writing, and it must include contact details of the individual who has the authority to modify, negotiate, and amend the terms of the mortgage. In addition, it is required that the notice be sent to the borrower by certified or registered mail with return receipt requested. The notice must also include a copy of the foreclosure sale advertisement, which the mortgage holder must publish in the official county newspaper for four consecutive weeks before the scheduled sale.
Proof of Title
Prior to the foreclosure sale, the mortgage holder must research that it owns title to the instrument securing the property with the superior court of the county where the property is located. Typically, proof will be in the form of a promissory note and deed to secure the debt.
Foreclosure sales in Georgia take place on the first Tuesday of the month between the hours of 10:00 a.m. and 4:00 p.m. on the courthouse steps of the county where the property is located. Following the signing of a deed of foreclosure, the winning bidder becomes the property’s new owner.
If you are unable to keep up with your mortgage payments, you should immediately contact an experienced Georgia foreclosure attorney for assistance, as the failure to be proactive may result in the loss of your home. At Klosinski Overstreet, LLP, we understand the toll that foreclosure can take on homeowners. Therefore, when you bring your foreclosure case to Klosinski Overstreet, we’ll be with you every step of the way as we work to obtain the best results possible. Our experienced Georgia real estate attorneys have been in practice for over 50 years combined, and much of this valuable experience was gained by serving our friends and neighbors in the Augusta and Central Savannah River areas. To put it simply: we know Georgia law, and we know Georgia real estate. So, if you’re at risk of foreclosure, please contact the experienced foreclosure attorneys at Klosinski Overstreet for a consultation.
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