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  • prevent foreclosure, Georgia

    I need help!!!

    I am about to get my house foreclosed on and am looking for any information/loopholes on how to prevent this from happening??

    Where can I go, what can I do?

  • #2
    Re: prevent foreclosure, Georgia

    Originally posted by Johnbowen View Post
    I need help!!!

    I am about to get my house foreclosed on and am looking for any information/loopholes on how to prevent this from happening??

    Where can I go, what can I do?
    I suggest you look into the "Making Home Affordable" program, which is sponsored by HUD:
    Making Home Affordable

    It's a government program that provides you counseling and options to avoid foreclosure.
    "If it ain't in writing, it never happened."
    "A lack of planning on your part does not constitute an emergency on my part."
    "You can never make the same mistake twice, because the second time you make it, it's not a mistake, but a CHOICE."

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    • #3
      Re: prevent foreclosure, Georgia

      I wish to inform you that apart from contacting the HUD Counselor, you may make a telephone call to the HOPE hotline and seek guidance. You may also attend the HUD free foreclosure prevention workshops in your area. Alternatively, you may contact Homesafe Georgia and seek guidance. You may also read the HUD Guide online.

      AFF

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      • #4
        Re: prevent foreclosure, Georgia

        According to the Georgia Department of Banking and Finance, abandoning your property may disqualify you from receiving foreclosure assistance. So, stay in your home. Communicating with your lender can help you reach a solution. Possible options include refinancing at a lower interest rate, temporarily suspending payments through forbearance and modifying the loan through the federal Making Home Affordable program. Prepare to provide financial information such as monthly income and expenses. Several prominent organizations in Georgia including Consumer Credit Counseling Service of Greater Atlanta, United Way, Neighbor Works America and Fannie Mae, teamed up to provide free foreclosure prevention counseling. Counselors assist by reviewing your mortgage and finances to explore various options, such as the Home Affordable Foreclosure Alternative program (HAFA). Attorneys throughout Georgia offer legal services to low-income homeowners free of charge. The assistance ranges from legal advice to court representation. An attorney can also determine if you are the victim of a lender fraud or predatory lending.

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        • #5
          Re: prevent foreclosure, Georgia

          Originally posted by Johnbowen View Post
          I need help!!!

          I am about to get my house foreclosed on and am looking for any information/loopholes on how to prevent this from happening??

          Where can I go, what can I do?
          Depending upon the stage you are at, there are different avenues to take. Has suit been filed? Foreclosure/mortgage defense has 150 strategies an experienced foreclosure defense lawyer can assert -- but it takes the knowledge and skill to do so -- something one cannot take one through in a forum such as this. First stop should be a lawyer who specializes in foreclosure and mortgage defense.

          Many mortgages made during the exploding bubble when they were sold through the MERS system lack adequate documentation to foreclose in the first place -- like the note -- when they went from investor-lender to investor-lender, sold over and over. That is what brought robo signing to the industry's disgrace. Forensic audits need to be made, documents pulled out from the lender in such cases which a lawyer can do.

          NAFTA is a non profit that helps people get their mortgages modified and in the past year a federal program has been extended to help people in your situation.

          But where you are in the process determines what help you need, so see a foreclosure defense lawyer right away so you can be guided to take the steps

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          • #6
            Re: prevent foreclosure, Georgia

            Hi John, sorry to hear of the news... foreclosing is a sad, ugly process. I had to foreclose/shortsale on two properties last year. In retrospect there are many things I would have done differently. I went the route of a shortsale to avoid a foreclosure on of my properties but in the end wish I had foreclosed on it as well.

            I dont know if you can save your house, but i have heard from some (Occupy Movement) that you can go to the courthouse steps during the day your house is being foreclosed on to ensure it is being called out by the banks for auction. Supposedly if its not called out you could sue to get your house back. Can anyone confirm this?

            Pete

            Comment


            • #7
              Re: prevent foreclosure, Georgia

              I actually used to work for a foreclosure company. There are a lot of grey areas, but this is somewhat true. We used to get fined up to $1,000 per house we did not auction off. Sometimes there just wasnt enough time in the day to cry out all of them. If you are there and don't hear your house being called out, you may be in luck.

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