Foreclosure Help & Options

How foreclosure works in Georgia

For a primary residence, federal rules generally prevent your servicer from starting foreclosure until you are more than 120 days behind.
 • Most Georgia foreclosures are nonjudicial — no lawsuit and no judge.
 • The lender must mail notice at least 30 days before the sale, and the sale is advertised for four consecutive weeks in the county's legal newspaper.
 • Sales happen on the courthouse steps on the first Tuesday of the month.
 • After a nonjudicial sale, Georgia gives no statutory right to redeem the home.
 • If you are still living there after the sale, the new owner must demand possession and then file a dispossessory (eviction) case.

What that means in real life

The 120-day window is your best chance — that is when the most options are still open. Once your home appears in the legal ads, you may have about a month left. Call us the month you miss a payment, not the week before the sale.

If you have equity, don't let it go to auction

Auction buyers bid to make a profit, so a foreclosure sale usually brings less than a well-marketed listing. If your home is worth more than you owe, selling before the sale date lets you keep the difference. Every consultation starts with a free, confidential equity check.

Money left over after a foreclosure sale

If the auction brings more than the mortgage and other liens, the extra — called surplus funds — belongs to the former owner, but you usually have to claim it. Be careful with companies that offer to "recover" surplus funds for a large percentage; ask the foreclosure attorney or a real estate attorney first.

What a foreclosure does to your future

Georgia allows a lender to pursue a deficiency judgment for any remaining balance if it reports the sale to the court within 30 days and gets it confirmed. Under Fannie Mae conventional guidelines, the waiting period to get a new mortgage is generally seven years after a foreclosure, compared with four years after a short sale.

Protect yourself from foreclosure rescue scams

Legitimate foreclosure help never requires an upfront fee.
 • Never sign your deed over to someone who promises to "save" your home.
 • Never stop paying or talking to your lender because someone told you to.
 • Nobody can guarantee a loan modification or a stopped sale.

止赎 (Foreclosure) 中文服务

如果您收到止赎通知 (foreclosure notice)，或已经逾期还款，请尽快联系我们。乔治亚州大多数止赎不需要经过法院，从通知到拍卖可能只有约30天。我们提供免费、保密的中文咨询，帮您了解时间线、比较各种方案；如果房子还有 equity，在拍卖前出售通常能保住您的钱。也欢迎想购买法拍屋或银行屋 (REO) 的买家和投资人咨询。