Upcoming Foreclosures

what is the process for foreclosure?

Info related to Georgia and Ohio only please.

Public Comments

1. Foreclosure law is under both state and Federal law. In Georgia a lender is required to issue a "Notice of Default" and is usually delivered after missing your second scheduled payment. This will be "Certified" mail. You must open a read immediately because the lender has issued a number of days for a response of your intentions. Regardless of what they may be answer in this time frame "Certified Mail", return receipt requested. You may also at this time offer an arbitration period between you and the lender and is usually a 90 day period for you to make agreed payments. If there is no solution acceptable to you, after the third missed payment an attorney representing the lender will notify you the home is going into "Foreclosure" and you must move immediately. If you wish to voluntarily foreclose you, with the lenders approval, can do a "Deed In Lieu of Foreclosure", as soon as you sign this document the lender owns it. Good Luck in life.
2. For state specific laws and advice on foreclosures try this directory: http://foreclosedhomemls.net