Category: Georgia | Foreclosure - page 4

Nobody looks forward to filing for bankruptcy. But when it comes to saving your home from foreclosure, bankruptcy really can be your best friend. A recent study by the University of North Carolina concluded that homeowners in foreclosure reduced their chances of losing their homes by 70 percent when they filed for bankruptcy protection. Bankruptcy…

What started as a tidal wave of foreclosures is slowing to a steady stream. But that doesn’t mean the foreclosure crisis is over. Just because fewer homes are being foreclosed upon doesn’t mean more people are paying the mortgage. It simply means that more people have already lost their homes to foreclosure – and now…

The Federal Housing Administration (FHA)’s new “Back to Work” lending plan shortens the waiting time required to secure a mortgage after bankruptcy or foreclosure to 12 months. FHA mortgages have always been a great option for first-time or lower-income borrowers because they require only a 3.5 percent down payment. In the past, borrowers had to…

Georgia is among a few states with the shortest foreclosure timeline. The average foreclosure process from the issuance of the Notice of Default can take as little as 60 days in Georgia, whereas the national average is closer to four months. The reason our timeline is so short is because the foreclosure process in Georgia…

Many people who have fallen behind on their mortgage payments may ask themselves, “Should I modify my mortgage?” Try considering several factors to decide whether loan modification is right for your situation. First, understand that a loan modification is a new agreement with your mortgage provider that alters the original terms of your mortgage loan….

Lenders across the country continue to foreclose on homeowners who fall behind on their mortgage payments. Each month, hundreds of Georgians lose their homes at foreclosure sales. You can file for bankruptcy under Chapter 13 to stop foreclosure. If you qualify, Chapter 13 not only protects your property, but also forces your creditors to halt…