Today, we are just three days away from the darkest day of many Georgia home owners lives.
On the first Tuesday of each month, people gather at area Georgia courthouses to bid on other people's foreclosed homes. It can be a great day for the bargain-hunting buyer, but a bleak day for the person losing their real estate investment and their home sweet home.
Here are a few quick facts about the Georgia foreclosure process leading up to this sad day:
- Judicial Foreclosure Available: Yes, BUT... the vast majority of Georgia foreclosures are non-judicial, due to the "power of sale "clause which is contained in most mortgage agreements.
- Non-Judicial Foreclosure Available: Yes. This is the most prevalent form of foreclosure in the state of Georgia.
- Primary Security Instruments: Deed of Trust, Mortgage
- Timeline: Typically 90 days, BUT... it could be much less, as little as 30 days
- Right of Redemption: Yes
- Deficiency Judgments Allowed: Yes
Don't wait until it's too late to save your home from this foreclosure process. Get the facts you need. Know your options. Then call on expert help if you choose to short sell before they foreclose.
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