Foreclosures
If you are unable to make your mortgage payments:
1. Don't Ignore the problem.
The further behind you become, the harder it will be to reinstate your loan and the more likely that you will lose your house.
2. Contact your lender as soon as you realize that you have a problem.
Lenders don't want your house. They have options to help borrowers through difficult financial times.
3. Open and respond to all mail from your lender.
the first notice you receive will offer good information about foreclosure prevention options that can help you weather financial problems. Later mail may include important notices of pending legal action. Your failure to open the mail will not be an excuse in foreclosure court.
4. Prioritize your spending.
After health-care, keeping your house should be your first priority. Review your finances and see where you can cut spending in order to make your mortgage payment. Look for optional expenses - cable TV, memberships, entertainment-that you can eliminate. Delay payments on credit cards and other "unsecured" debt until you have paid your mortgage
Avoid Foreclosure Prevention Companies.
You don't need to pay fees for foreclosure prevention help-use that money to pay the mortgage instead. Many companies will contact you promising to negotiate with your lender.
Don't Lose Your House to Foreclosure recovery Scams!
If any company claims they can stop the foreclosure immediately if you sign a document appointing them to act on your behalf, you may well be signing over the title to your property.
Contact a trusted Real Estate Agent
Call a trusted real estate agent. I myself have been able to guide a number of homeowners in the prevention of foreclosure.
Looking to purchase a foreclosed home?
If you would like to purchase a home which in foreclosure, I can help you with that. There have been a number of homes in Georgia which have gone into foreclosure, or which homeowners are facing foreclosure. This maybe a way that you could purchase a home for a lot less than the market value.
