The foreclosure process in Georgia can happen very quickly–as little as 37 days start to finish.  According to Georgia law, the mortgage company must give you written notice of the foreclosure and advertise notice of the foreclosure for four weeks preceding the foreclosure. Foreclosure notices must be published in the legal newspaper of the county where the property in question is located.  Once these notice requirements are met, the lender can sell the house on the courthouse steps and you will no longer own your house.

Georgia foreclosures can only occur on the first Tuesday of each month, and you may file bankruptcy to stop a foreclosure in Georgia.  While Elder Law Firm can usually handle last minute stop foreclosure cases, you are better off contacting us as far in advance as you can.

When a debtor files a bankruptcy case, a bankruptcy “stay” is issued, meaning that all creditors are “stayed” or stopped from taking any collection actions against a debtor in bankruptcy.

When you file bankruptcy, your attorney will notify the mortgage company that you have filed bankruptcy to stop the foreclosure on your home and the mortgage company will cancel the sale. 

After your foreclosure is stopped, you have the option of catching up on past due payments on your mortgage in order to keep your home in a Chapter 7 bankruptcy.  In a Chapter 13 bankruptcy, you can consolidate past due payments on your mortgage and other debts into monthly payments and keep you home.  You may still seek a modification of your loan with your mortgage company.

If you are or think that you may be in foreclosure but you are not sure, or even if you just need some planning advice, we invite you to call Elder Law Firm.

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