Stop Foreclosure in Georgia
Homeownership is a crucial part of the American Dream, and yet millions of families across the country are on the verge of losing the houses they've worked so hard to buy. Many Georgia homeowners don't realize how quickly their homes can be ripped away from them and how little time foreclosure laws give them to save their houses.
Don't let a bank destroy your American dream! Chapter 13 bankruptcy laws enable you to avoid foreclosure by restructuring your debt into an affordable monthly payment plan. Call or text DebtStoppers at 678-673-2142 to set up a free personal consultation with one of our knowledgeable Georgia foreclosure defense attorneys, and learn how bankruptcy laws can prevent creditors from foreclosing on your home.
How Foreclosure Works in Georgia?
When you bought your house, you most likely executed a mortgage agreement with a lender. With a mortgage loan, the bank fronts the money for your real estate purchase, and you pay it back in monthly installments. Under the terms of most mortgages, the loan is "secured" by the purchased home. This means that if you miss payments, the laws allow the creditor to assume ownership of the property.
Georgia laws allow for non-judicial foreclosure. This means that lenders don’t need to go to court to foreclose on a home. Instead, Georgia banks can choose to foreclose on your home through a process known as "power of sale."
As soon as you miss your first payment, the laws allow your creditor to send a notice of its intent to foreclose. Georgia laws only give you 30 days' notice of the sale. Once you receive this notice, you'll have 30 days to pay off the entire loan. If you can't come up with the full amount, your home will be sold at a public sale.
If you're one of the thousands of Georgia homeowners trying to stop a foreclosure, you've probably investigated a variety of different options. There are plenty of people out there who claim they can help. The problem is that many of these options don't work and won't stop a bank from foreclosing on your home.
What Doesn't Work
Sadly, there are predators in Georgia who flout the laws, spread lies, and try to rip off people who are desperately trying to keep roofs over their heads. You should be wary of companies that claim to be:
- Foreclosure "rescue specialists"
- Debt "doctors"
- Mortgage modification middlemen
- Debt settlement companies
These con artists won't save your home; they will pocket your cash and leave you out in the cold. You'll find yourself alone, trying to recover from the consequences of these bad actors
Doing it Right
Georgia Chapter 13 bankruptcy laws provide the best solution for avoiding foreclosure. Even though you'll have to keep your mortgage after you file, Chapter 13 will eliminate approximately 90% of your other debt, making it easier for you to pay your home loan.
The moment you file a bankruptcy petition, the court issues an automatic stay that orders your creditors to immediately stop any and all collection attempts. This means that your lender CANNOT FORECLOSE on your house. It also means that even if the bank has already starting foreclosing, they have to STOP right away.
At DebtStoppers, our experienced bankruptcy attorneys know how to stop foreclosures through Chapter 13. Call or text us today at 678-673-2142 to schedule a no-cost debt evaluation.
ebtStoppers lawyers have saved thousands of homes in Roswell and across Atlanta, and we can help you protect yours. There is no time to waste, so call or text DebtStoppers today to get started!