How to Stop Atlanta Foreclosures Effectively

Perhaps one of the most devastating news a homeowner can experience is when you are given a foreclosure notice. The reason behind it is that the risks are too much to endure and the situation is unfamiliar to most of us. But there are ways to stop Atlanta foreclosures and to start with, you have to remain calm and start thinking intently as to what you should do.

Steps to Follow in Order to Stop Atlanta Foreclosures

1. Contact your lender

Atlanta Foreclosures

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The biggest mistake that any homeowner can do is to avoid your lender. You have to remember that lenders are not really willing to foreclose you. Foreclosure has some unwanted effect on them too and with the present economic situation, most lenders feel that they are better off working out a plan with you rather than continue with foreclosure process.

2. Know your options

You have to know your options under Georgia foreclosure laws. Make sure to meet with a HUD-approved Atlanta counselor and know all your rights and options under Georgia law. Try to ask also from your counselor if you can avail some assistance from FHA Secure.

3. Workout a plan with your lender

Aside from meeting with your counselor, make sure to come up with a plan with your lender too. This is simply a payment scheme that is doable on your part and acceptable to the lender. The main purpose behind this is simply to prevent foreclosure. You have to remember that the mortgage company makes money from you paying the mortgage and not from foreclosure so a good agreement is a win-win proposition for both of you; you get to stay in the home, the lender gets to continue earning from your mortgage.

4. Beware of bogus help

Be very careful with the kind of help that you get. You have to remember that there are a lot of scams in this business and there are unscrupulous persons who pretend to be helpful but are truly not. Make sure to read all the fine prints, consult a lawyer you can trust or a real estate agent that you know.

5. Adjust your spending habits

When facing foreclosure, you need to make certain sacrifices. This could mean stopping gym membership, cutting off cable service and cutting down on shopping. You will be amazed at what we can live without and how much you can save when you do this.

Atlanta Foreclosures can be abated if you follow these steps. Although getting served with a foreclosure notice is not a joke, it’s not the end of the world yet and there are ways to stop foreclosure right at its tracks.

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