Behind on your mortgage in Georgia? Here are your options.
Start with your loan servicer and a HUD-approved housing counselor. If selling turns out to be one of your options, Dexter Williams, a licensed Georgia REALTOR® with Chapman Hall Realtors, can show you what a listing, an as-is sale or a cash offer could look like.
Dexter lists homes, and on some properties he may also make a direct cash offer to buy a home himself, disclosed in writing. There is no promise of an offer, a price or a closing date.
Options to ask about
Not every option fits every loan. Your servicer decides what it offers, and a counselor can help you compare them.
Call your loan servicer early
Ask what options they offer, such as a repayment plan, forbearance or a loan modification. The servicer decides whether you qualify. Keep notes of every call and get offers in writing.
CFPB: loan modification ↗Talk with a HUD-approved housing counselor
Housing counselors can review your budget, explain your servicer's options and help with paperwork. HUD-approved counseling is often free.
Find a HUD-approved housing counselor ↗List the home on the Georgia MLS
If you have equity and selling is the right choice, a listing reaches the widest pool of buyers. Whether a sale can close before any scheduled sale date depends on the buyer, title work and your lender, so no one can promise the timing.
How listing worksAsk about a short sale
If you owe more than the home may sell for, the lender may agree to accept less than the loan balance. A short sale needs the lender's written approval and can take time. Ask a tax professional and an attorney about the effects.
CFPB: what is a short sale ↗Compare cash offers
Investors may make cash offers on homes in pre-foreclosure. On some properties, Dexter may make a direct cash offer himself, as a disclosed licensee buying for his own account. Any cash offer should be compared with a listing and checked for proof of funds.
How to compare cash offersAsk the lender about a deed in lieu
Some lenders will accept the deed to the home in place of foreclosure. It is the lender's decision, and it has credit and tax effects to review with a counselor or attorney.
CFPB: deed in lieu ↗Georgia foreclosure basics
Most Georgia foreclosures are non-judicial, which means the lender does not need to go to court. In general, Georgia law requires written notice to the borrower at least 30 days before the sale, the sale is advertised in the county's legal newspaper once a week for the four weeks before it, and sales are usually held on the first Tuesday of the month at the county courthouse (O.C.G.A. §§ 44-14-162 and 44-14-162.2). Exceptions apply. This is a general summary, not legal advice.
- Open every letter from your servicer and keep copies.
- Write down the date of any scheduled sale and share it with your counselor or attorney.
- Get any agreement with your lender in writing.
- Before you sign a listing or a purchase contract, ask how it fits your lender's timeline.
Watch for rescue scams: up-front fees to save your home, requests to sign over your deed, advice to stop talking to your lender, or pressure to sign right away. Check with a HUD-approved housing counselor first.
Dexter is a licensed real estate agent, not an attorney, lender or housing counselor. For legal questions, talk with a Georgia attorney. Income-eligible homeowners in metro Atlanta can contact Atlanta Legal Aid. Other life changes, like an estate or a divorce? See selling in a difficult situation.
Common questions
Will selling my house end the foreclosure process?
No one can promise that. Whether a sale closes in time, and what your lender does in the meantime, depends on the lender, the buyer and the title work. Talk with your servicer and a HUD-approved housing counselor first. If selling is one of your options, Dexter can show you what a listing or an as-is sale could look like so you can compare it with your lender's timeline.
How does foreclosure work in Georgia?
Most Georgia foreclosures are non-judicial, under the power of sale in the security deed. In general, Georgia law requires written notice to the borrower at least 30 days before the sale, the sale is advertised in the county's legal newspaper once a week for four weeks, and sales are usually held on the first Tuesday of the month at the county courthouse (O.C.G.A. §§ 44-14-162 and 44-14-162.2). This is a general summary, not legal advice. Talk with an attorney about your situation.
What does a HUD-approved housing counselor do?
A housing counselor can review your budget and loan, explain options your servicer may offer, and help you prepare the paperwork. You can find one through HUD's housing counselor search, and counseling is often free.
Will Dexter buy my house?
Maybe, but there is no promise. Dexter is a licensed Georgia REALTOR® with Chapman Hall Realtors who lists homes. On some properties he may make a direct cash offer to buy the home for his own account. If he does, he will disclose in writing, and in the purchase contract, that he holds a Georgia real estate license and is acting as the buyer. You are free to compare other offers, list the home, or talk with your own agent or attorney first.
How do I spot a foreclosure rescue scam?
Be careful with anyone who asks for fees up front to save your home, asks you to sign over your deed, tells you to stop paying or stop talking to your lender, or pressures you to sign quickly. Check with a HUD-approved housing counselor before signing anything.
Is Dexter a lawyer or housing counselor?
No. Dexter is a real estate agent, not an attorney, lender or housing counselor, and nothing on this page is legal or financial advice. For legal questions, talk with a Georgia attorney. Income-eligible homeowners in metro Atlanta can contact Atlanta Legal Aid.
Talk privately with Dexter
Share as much or as little as you like. Your message goes only to Dexter. He can show you what your home may sell for and how each way of selling works, so you can compare that with what your servicer and counselor tell you.
Dexter Williams, REALTOR®, Estate Realty Group at Chapman Hall Realtors. GA R.E. Lic. #372280.