Skip to main content
(678) 915-2634 Contact Us
Georgia Foreclosures Continue at Lightning Speed Atlanta, GA

Personal Attention & Experience Since 1971 Family-Owned, Family Focused

Client Reviews

Georgia Foreclosures Continue at Lightning Speed

Foreclosue Sign on Top of For Sale Sign in Front of House

As the nation determines its collective next step in regards to foreclosures and the allegations of improper foreclosure practices recently made against major lenders, experts say that Georgia foreclosures are unlikely to slow down in the coming months and, possibly, years. This is largely because of certain unique sections of Georgia’s foreclosure laws, which place the legal (and corresponding financial) burden on homeowners to fight against Georgia foreclosure in court.

According to legal experts and advocates, Georgia law differs from many other states in that it places the legal burden of disputing a foreclosure on the homeowner being foreclosed upon. If that homeowner believes the foreclosure paperwork may have been rushed through by the lender or otherwise improperly handled, he has every right to fight the foreclosure and the lender in court. However, if a homeowner is already in big enough financial trouble where he cannot make his mortgage payments, the likelihood that he will be able to afford an attorney or even to file a motion in Georgia courts is slim to none.

In addition, there are very few legal hoops that Georgia lenders have to jump through in order to initiate and proceed with a foreclosure. There is no lawsuit required; a lender merely has to declare that the homeowner is in default under the terms of his mortgage, and a foreclosure will be allowed. In addition, banks only have to publicize the foreclosure once a week for four weeks before they can sell the home on the courthouse steps.

It is a fast process for homeowners who have no real viable options. Some may choose bankruptcy to save their homes, but many simply give up, seeing no hope in sight. Meanwhile, lenders sell foreclosed homes to the lowest bidder, says bankruptcy trustee Walter Kelley. “They are foreclosing because a lot of them want to just get these bad mortgages off their books,” he said. “Going ahead, take the hit, and be done with it.”

Source: WALB, “No sign of South Georgia foreclosures slowing”, Jim Wallace, 17 November 2010

Posted on behalf of Jamie L. Gingold, PC

195 14th Street NE #1604
Atlanta, GA 30309

Phone: (678) 915-2634

Email: 

First Free
Appointment




    DisclaimerPrivacy Policy

    I have read the Disclaimer and Privacy Policy

    Our Client Reviews

    Jamie L. Gingold, PC
    5.0 / 5.0

    Based on 28 reviews

    Jack L.

    They did an excellent job with my case. Jamie took the time to really listen and understand things. She delved into the details and was extremely knowledgeable and non judgmental. Very professional an

    Karen B.

    Dear Mr Gingold, There are so many reasons to be thankful for all you have done and will do. Anyone who has ever had unfavorable experiences with an attorney or the legal system will feel the trepida

    Lyla B.

    I thought the process of filing bankruptcy was going to be a difficult one. However, Gingold & Gingold treated me with respect and dignity from the moment I walked through their door. I had the pl

    Julie T.

    Wow! I am finally out of debt and can say that I am debt free after completing my chapter 7 bankruptcy case with Gingold and Gingold. Mr dangled was very knowledgeable and direct with regard to my deb

    Julie T.

    I contacted getting old and getting old regarding some old tax debt and credit card debt that I needed to address and had been putting off. miss Irving in the office was very very nice and put me at

    Anna T.

    Amazing! Outstanding!! They went over and beyond..I would recommend them to anyone needing a lawyer!!

    Write a review