This video will help you understand the foreclosure process in Georgia.
If you have missed a mortgage payment or know you will not be able to pay your mortgage, it is best to take action before the foreclosure process begins.
Contact your mortgage company to talk about your options or talk to a free HUD-certified housing counselor at https://www.consumerfinance.gov/find-a-housing-counselor/
In addition, financial assistance may be available from the Georgia Homeowner Assistance Fund program. Homeowners can apply at https://georgiamortgageassistance.ga.gov
Generally, although not always, a mortgage company cannot foreclose until you are 120 days delinquent on your payment.
In Georgia, your mortgage company can foreclose without filing a legal case against you. They still must follow some rules.
The mortgage company must give you notice of the sale by:
- Sending a written notice of the foreclosure sale no less than 30 days beforehand by certified, registered, or overnight mail.
- Advertising the foreclosure sale in the legal newspaper for four weeks before the foreclosure sale.
Foreclosure sales are held on the first Tuesday of each month on the courthouse steps between 10AM and 4PM.
If the bank has started the foreclosure process, talk to a lawyer as soon as possible. You may have options to keep your home or stop the foreclosure.
Even after the foreclosure process has started, the mortgage company may still be willing to work out a payment plan. If you cannot work out a plan with the mortgage company, you might also be able to avoid foreclosure by selling the home or filing for bankruptcy.
Be aware that third parties will often try to scam people who are facing foreclosure. Talk to a lawyer or HUD-certified housing counselor about any offers you get.
Once the foreclosure sale takes place, you no longer own the home. However, the new owners cannot force you to leave immediately. They must get a court order to evict you.
Learn more at GeorgiaLegalAid.org