If you’ve gotten a foreclosure notice of default and want to know what the heck is going on, keep reading.
Foreclosure Notice Of Default: Foreclosures In Georgia
Basically, a foreclosure eviction notice of default is a document that has to be filed by a lender to start the process of foreclosure in Georgia.
The foreclosure notice of default must be sent to anyone who has an interest in the property (any other loans, lenders, or even contractors who are owed money for work done to a property will get a copy).
The foreclosure notice of default must also be published in a newspaper and physically posted in a prominent place on the property itself. You’ll usually see these notices of default on the front doors or front windows of a house in foreclosure.
Although this can be really embarrassing to someone going through foreclosure, it’s actually a very important protection for consumers.
Back before US law required a notice of default, people were sometimes foreclosed on without any warning.
In fact, it’s happened even in the past few years – at least one bank has accidentally foreclosed on the wrong property and kicked people out of their house without due process or warning. It’s even happened around Suwanee.
The notice of default is a very important step within the foreclosure process that gives people with an interest in the property to step forward and claim their rights – before it’s too late.
If you’ve received a notice of default, don’t wait. Time is definitely of the essence, and you should take action.
Related: Stop My Foreclosure In Atlanta Georgia
Key Steps To Take: Foreclosure Notice Of Default
1) Stay Calm And Don’t Panic: You Have Foreclosure Options
This may sound obvious, but it’s probably the most important. Anyone in foreclosure is dealing with a lot of stress beyond just the property. These situations don’t happen overnight, and they take a while to solve. You’ll get through it by practicing good coping techniques and taking good care of yourself and your family. Panic leads to bad decisions, so stay cool.
2) Educate Yourself On Foreclosure Effects
Learn everything you can about the foreclosure process in Georgia so that you know what’s happening and what’s coming up next in the foreclosure process in Suwanee.
3) Gather Your Resources: Reach Out To Foreclosure Lawyers
There’s also many non-profit and government resources available out there. You’ll want good legal and tax advice along the way. Definitely don’t try to do it all yourself. Georgia foreclosure laws are super complicated with lots of rules. Your best option, if you believe that you are wrongly being foreclosed on, is to reach out to a foreclosure attorney in Georgia who is experienced with the foreclosure laws in Georgia.
4) Learn Your Foreclosure Options
We’re here to help you avoid foreclosure. We buy houses with cash. We can help you with short sales and even rent-back situations so you (potentially) may be able to keep living in your home. There are many more options than you think.
5) Communicate With Your Lender Throughout Foreclosure
The banks involved don’t want your property. They want money, and what you say matters a lot. You can slow down or stop the foreclosure process if you take the appropriate action.
Want to know more?