Georgia foreclosure process

The State of Georgia allows for two types of foreclosure proceedings. One way to conduct the foreclosure proceedings is via the court, and the other is via a non-judicial proceeding. Both these foreclosure proceedings can be completed within a period of two months in Georgia State.

Period of Pre-foreclosure

Typically foreclosure proceedings take place in the court when there is problem relating to the title of the property or the mortgage or when the trust deed is misses a clause allowing for an non judicial settlement. The court process is initiated when a lender files a request, in which he/she describes the situation, describes the property, and the amount needs to be paid by the buyer. Within 30-days after filing the petition, the borrower is sent a written notice that informs him/her to pay the default amount to the court. If both parties do not reach a resolution, the issue results in a foreclosure sale.

Since most of the mortgages and deeds of trust contain a clause that gives a lender the power to sell the property outside the system of the court, the non-judicial process has become more common now. The foreclosure process begins when the lenders schedules a foreclosure sale. As per the foreclosure laws in the State of Georgia, the lender doesn’t have to warn the borrower about the impending foreclosure process. However, in case of trust deeds or mortgage issues, the borrower will need to be informed before initiating the process.

The borrower also has the option of stopping the foreclosure proceedings by paying the default amount in addition to other costs that may be applicable if the mortgage or trust deed allows it. Nevertheless, the borrower doesn’t get the right to reinstatement automatically according to the Georgia State foreclosure laws. In any case the borrower can always exercise the last option available, which is to pay the total amount due and stop the foreclosure process.

Auction Notice

The notice of sale is published for a period of four weeks, once each week, before the sale is due. The notice is sent to the borrower at least 15 days before the date of sale. The following information – date, time, and location of sale, property description, information on mortgage, and the names of the lender and borrower will be included in the notice.

Typically, most foreclosure sales are held at the country courthouse between 10:00 am to 4:00pm on the first Tuesday of each month. The person, who wins the bid, if someone other than the lender, will need to pay the total bid amount to the person who is in charge of conducting the sale. But if for some reason the sale is cancelled, then the foreclosure process will have to be initiated all over again.

After the foreclosure sale ordered by the court is completed, a confirmation hearing is set up and the borrower will be given the notice at least five days in advance of the hearing. A sale is only valid if the foreclosed property sale price is the lowest market value for that property. If such is not the case, then the court can order a new sale to be held.

In the State of Georgia, the borrower loses the right of redemption once the foreclosed property is sold.

Buying Georgia Foreclosure Homes for Huge Discounts

For many investors, the best way to find great savings on a wide variety of properties is to buy Georgia home foreclosures. Georgia foreclosure properties are unique types of real estate that are for sale as a result of bankruptcies or a homeowner's default on their home mortgage loan. Often times, foreclosure homes in Georgia can be purchased for very cheap prices, since they absolutely must be sold in order for lenders to reclaim the loss on the delinquent loan. Georgia foreclosed homes can offer incredible chances for buyers to save money on home purchase, and a huge margin for future profits on resales, since they can often be bought at auction for up to 50% off their normal market value. And there are currently thousands of opportunities to buy Atlanta foreclosure homes and all kinds of great houses for sale in Stone Mountain, Lithonia, Douglasville, Conyers or beyond. And best of all, anyone can learn to buy Georgia foreclosure homes with the help of a little expertise and some GA foreclosure listings.

Investing in Georgia foreclosures can earn you great savings and a great return on investment, but you have to know where to find them. The best way to locate GA foreclosure homes from Macon to Marietta are foreclosure lists, which can be found from a number of sources, including online vendors. Listings for Georgia foreclosure homes provide all the information you need to get the best deals available, including property location, projected price, vital statistics and even photos. Since the market in the state is so flooded with Georgia repo homes these days, there are a record number of listings out there in popular areas like Lawrenceville, Jonesboro, Rivderdale and Covington. To get started finding the best in Decatur foreclosures and much more, simply try searching some listings online today. No other property offers the value that Georgia foreclosure homes do, and once you learn to buy them, you'll never want to pay full price on real estate again!

Georgia Foreclosure Homes Can Make You Richer On Mega Savings

Savvy and smart real estate investors have seen their wealth grow significantly from Georgia home foreclosures for a couple of years now. With the Georgia foreclosures inventory building up across the state, alert investors are now focusing their eyes on this, once niche market and mining it to full potential.

Georgia is currently one of the favorite playgrounds for real estate buyers. Why? Because Georgia foreclosures offer a wide range of attractive foreclosure homes across all the five counties and the big cities such as Atlanta (the capital city), Augusta, Dallas, Douglasville, Ellenwood, Jonesboro, Conyers, and others. Smart homebuyers are taking advantage of a large inventory of Georgia foreclosure homes to gain big discounts and reap mega savings!

As an astute buyer who wants to ensure a financially secure future for you and your family, investing in Georgia bank foreclosures is a terrific opportunity that must not be missed. Offering many ways to build you capital, these foreclosure homes can be rented or simply invest in them and sell them after a few years of appreciation to rake in the money. But you are a first time homebuyer and want to realize the Great American Dream of owing a home that you can call your own then, Georgia foreclosure homes are your best bet.

If you are seeking a change in career, then Georgia foreclosures provide you an apt opportunity. You can become a real estate dealer and seek your fortune from a continuing cycle of buying at huge discounts, renovating the property, and selling on excellent net profit after a year or two. Today, Fulton County is the single largest contributor to Georgia foreclosure listings in the state. The capital city of Atlanta, which is a huge metropolitan with over 5, 00,000 residents, tops the list for foreclosure homes in Georgia. The state of Georgia can fulfill your dream of affordable housing easily!

With 22,391 Georgia foreclosure homes listed for the first quarter of this year, there is plenty of choice available. With a foreclosure rate of 1 for every 138 homes, Georgia ranks 3rd on the list for highest foreclosure rates across the United States of America, this is a decrease of 8% from last year.

Surely, so many Georgia foreclosures are bound to attract the smart and alert property buyer or investor. There’ll never be a better time to turn your fortune from investing in Georgia bank foreclosed homes than today!

Finding The Best Atlanta Foreclosure Homes Deals In A Growing Market

Atlanta foreclosure homes present a great opportunity to make an investment in real estate. When you purchase Georgia foreclosure homes, not only do you get to own the home, but you benefit from buying the home at a considerably lower price than its market value.

A win-win situation, not only do you save heavily, but you also acquire instant equity, which can actually take years to build. Atlanta foreclosure homes can be found listed on numerous Atlanta foreclosure listings websites over the Internet. The reputable foreclosure listing websites are updates several times and offer the latest listings news and status on pre-foreclosures and foreclosures.

If you like any of the Atlanta home foreclosures and are interested in buying it, you should try to negotiate with the lender on the foreclosure property. It’s important that you ask them not just for a favorable down payment requirement but also the lowest possible rate of interest. After all, lenders really offer loans, and are not really in the real estate buying and selling business. Whether the Atlanta foreclosures belong to an individual lender or an institutional lender, you can ask them to fund you for the purchase of the Atlanta foreclosures. Ensure that you have kept all your options open and keep your eyes and ears open for any favorable bargains that may come your way.

Atlanta city offers a great opportunity for homebuyers. A booming city with many industries offering exciting employment opportunities, you’ll never face a problem getting a new job. Atlanta is also known for its culture, history, enjoyable nightlife, excellent shopping facilities, and wonderful education facilities. Begin your search for your new home by checking out Atlanta foreclosure listings. Look at Atlanta bank foreclosures, as well as lender owned Atlanta foreclosures. Explore the real estate market in Atlanta properly as any good foreclosure property could possibly become your new home and real estate investment.

With America being gripped by the subprime crisis, this is a wonderful time to invest in Atlanta foreclosure homes and purchase a home at unbeatable prices and lower interest rates. Many of the Atlanta foreclosures are unsold for as much as 10 to 50% from their current market value. Of course, the type of property does determine the savings you make but then again, a deal as fantastic as Atlanta bank foreclosed homes can lay a solid foundation for a future that is financially secure providing you economic freedom to indulge yourself in fulfilling your family’s needs for years to come.

Rising foreclosures

Capital of Georgia, Atlanta is the 9th most populous metropolitan in the US and the Atlanta foreclosures have been on the rise through 2007. The foreclosure rate was 1 in every 281 homes and total number of Atlanta foreclosure homes in 2007 was 5,163, which is 3.571 times the national average. With such a high rate of foreclosure, you can expect a load of Atlanta foreclosure homes to choose from. Spread over a land area of 131.8 square miles, Atlanta has a humid sub-tropical climate averaging a snowfall of 2 inches of annual basis. In the last couple of years, Atlanta has seen a lot of economic growth, which can be seen on a full moon night when Atlanta’s skyline gets punctuated with some of the most modern high-rise buildings including the 29th tallest building in the world: the Bank of America Plaza. Some of the top Fortune 500 companies are based out of Atlanta.

This is reason enough for many people top relocate to Atlanta. But with the high cost of buying real estate, the best option for most homebuyers is foreclosures in Atlanta.

Find your Atlanta Home

You can find some of the most beautiful homes through Atlanta foreclosures but you will need some help to find them. We at ForecloureConnections.com can help you in finding all the top Atlanta bank foreclosures for sale by offering you a 7-day trial membership that you just can’t refuse. Our membership includes guidance by some of the top professionals from the industry and an extensive database of Atlanta bank foreclosures that includes everything from Single family to multifamily units and from high-rise penthouse Condos to pretty town houses. You will get information on each of the Atlanta foreclosures mentioned in our lists including their costs, the total area, number of rooms etc., which will help you to make an informed decision.

Find real bargains with Georgia foreclosure homes

Georgia on My Mind

An area of 59,441 square miles, Georgia is divided into four distinctive geologic regions called the ridge and valley, the Piedmont, the Blue Ridge and the coastal plain. The state is blessed with nature's bounty where 250 species of trees are protected and is inhabited by 160 species of bird and is home to the deadly rattlesnake, cottonmouth and the copperhead snakes. It enjoys a sub tropical climate and a history that can be dated back to the 14th century.

Who wouldn't want to buy a home foreclosure in Georgia when the state speaks loud about its deep cultural roots, and is surrounded by 48 state parks and numerous wildlife reserves? Of course, first you will need to find the right home. For that you can consult a real estate professional or find a copy of Georgia foreclosure listings. These listings are available with online real estate companies who update it on a regular basis so that you can get the latest information on Georgia foreclosures for sale. The lists also have vital information and description of each and every home that has been foreclosed anywhere in the country. Imagine having the opportunity to choose from 500,000 homes. That is quite a lot!

Foreclosure Activity in Georgia

The foreclosure rates have not been stable and dipped in December last year to rise again in January. Georgia reported that 7,342 properties were in some stage of foreclosure in January 2006. As a result, it had the highest foreclosure rate in the country in January with one in every 422 homes. This means that there are many more Georgia foreclosed homes ready for auction this year. Although you have a lot to choose from but it is always important to first identify your requirement. If you are single then there's no point buying a 4-room bank foreclosure in Georgia as it will be more expensive and not of much use.

Once you have identified your requirement the next thing to do is find a matching home from the listings. Don't select just one home; choose a handful of them for comparison purposes. The next step is to physically check these homes. As a part of Georgia bank foreclosures, you will always get a home as you see it. This means that if any repair work is required then that will be your responsibility as a homeowner. If you check the homes before bidding then the chances of your finding and buying the right home will be much higher.

Once you find the right home, you need to find a lender. It is always recommended that you have a lender at hand before bidding. You can get a Georgia foreclosure home for as high as 25% discount but whatever the discount is, it is always going to be worth buying a home in the peach state of Georgia.

How Marietta Foreclosure Homes can help you in earning profit?

There are a lot of foreclosures going on in all parts of the United States of America and the rest of the world. The foreclosures in all parts of the world are a source of buying property at a lesser price for many. All those who are in the business of real estate look for these opportunities to purchase property and make an investment of their time and money in it. Those who are ready to make an investment at a bigger level are interested in the state foreclosure homes. The information about all these foreclosed homes is available online. If you want to make an investment in these, you can do by looking for the right foreclosure options online.

Home foreclosures in Marietta can serve the purpose for you if you are looking for a cheap home in Marietta. It is one of those cites where the trend of immigration is strong. The people who are coming from other parts of the world not always have enough money to buy new homes for themselves at the market price. All these people look for Marietta foreclosure homes. Foreclosure homes in Marietta solve the problem of buying a home for many of these.

Foreclosure homes in Marietta as an investment opportunity

The foreclosure homes in Marietta are not only a good source buying your own home at a cheap rate, but these are also a good opportunity of making money for those who are into the property business. These houses for sale are priced for less than the market price. The foreclosure homes in Marietta than can be sold later on at a much higher price. The difference in the purchase price and the sale price will act as the profit for you.