Good News for Gerogia Home Owners: NOD - NOT the End of the World
Let's face it... even though the recent upturn in housing sales in the metro Atlanta real estate market has given rise to some much-deserved optimisim among buyers sellers and agents, the fact is that recovery will likely be slow. Economic recovery takes time, employment prospects are still uncertain, and Georgia homeowners who have already fallen behind on their mortgage payments may still be struggling to bring their loans current.
If you find yourself in this situation, remember it is NOT the end of the world. You can recover from anything. So heed this word of advice: Do NOT ignore any correspondence from the lender. You don't want to miss the NOD -- Notice of Default. Because the NOD is your alert that foreclosure is eminent...unless you take action.
The typical Georgia mortgage creates a lien on the property in favor of the lender. This usually takes the form of a security deed conveying title over the property to the lender, though the borrower retains all the usual rights of ownership as long as the repayment terms are being met.
The Georgia foreclosure process begins when the homeowner fails to make payments of the money due on the mortgage at the appointed time. Proceedings typically start with a formal demand for payment which is usually a letter issued from the lender, the Notice of Default (NOD). In Georgia, the lender will issue this notice when the homeowner has been 30 days or more delinquent on the mortgage payments.
Every Georgia mortgage holder needs to understand that the Notice of Default is a threat to sell your property, terminate all your rights in the property and evict you from the premises. But the good news is that you might still have time to avoid foreclosure, if you act right away. 
So, what can you do if, in spite of your best efforts to bring your loan current, you receive the dreaded NOD from your lender? First, resist the urge to give up. Instead, contact your lender right away to discuss the options for Georgia home owners. You may discover that there are several possible remedies for your situation that will NOT result in a sale of your home on the court house steps. One remedy that more and more lenders are suggesting is a pre-foreclosure sale ofthe property.
As a CDPE (Certified Distressed Property Expert) and Short Sale Specialist, I have seen that pre-foreclosure sale is among the most successful methods to prevent bank foreclosure. So, I am on a mission to assist as many homeowners as I possibly can to avoid foreclosure through pre-foreclosure sale, or short sale.
I've compiled a couple of web sites full of short sale information for Georgia's distressed home sellers, because I know how to help make this happen. I've invested extensive time and money to learn everything I can about the Georgia foreclosure process and how to prevent it. Consequently, I have become an expert at assisting my neighbors who find themselves in distressed property situations.
For more information, visit Avoid Georgia Foreclosure and Best Atlanta Short Sales and get your questions answered, then contact me for expert help.
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