This page explains, in plain language, some of the broad paths people facing foreclosure often hear about. It is general information only, not legal advice. SouthEast Virtual Solutions LLC is not a law firm and is not affiliated with your lender or with the government. For advice about your own situation, consider speaking with a licensed attorney or a HUD-approved housing counselor.
Keep the home, sell the home, or face an auction sale
Keep the home. This means trying to stay in the home. In general, that can involve talking with your lender about your payments, what you owe, and whether any change to the loan terms or a catch-up plan is possible. A lender does not have to agree to a change, and the options available depend on your loan and your circumstances.
Sell the home. This means selling the property before a scheduled foreclosure sale, if there is time to do so. Selling can involve deciding on a price, finding a buyer, and completing a sale before the sale date. The amount from a sale, after amounts owed and costs, depends on the details of your situation, so no price or closing date can be promised in advance.
Auction sale. If a foreclosure sale goes ahead, the property is generally sold at a scheduled public sale. In Georgia, that sale is generally held on the courthouse steps on the first Tuesday of the month, between 10 a.m. and 4 p.m. After a sale, the new owner generally controls the property, and Georgia generally has no statutory post-sale redemption period, which means there is generally no set right to buy the property back after the sale under that rule.
Georgia timeline in brief
- Georgia generally uses a nonjudicial, power-of-sale process. That means a foreclosure sale can move forward without a court case in many situations, although the exact steps can depend on your loan documents and circumstances.
- The lender generally must give notice at least 30 days before the sale.
- The sale is generally advertised weekly for 4 consecutive weeks before the sale.
- Sales are generally held on the first Tuesday of the month, between 10 a.m. and 4 p.m.
- Georgia generally has no post-sale redemption period under the rule described above.
Because dates can move quickly once a sale date is set, it is important to check your notices, note any sale date, and ask for help promptly if you are unsure where things stand.
Next step
If you would like SouthEast Virtual Solutions LLC to review your situation, go to the Foreclosure Help page and complete the short request form. You can also book a free 15-minute phone call. We cannot promise a particular outcome, price, or closing date. Every situation is different, and any options shared will depend on the details you provide.
