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What to do if you find yourself in Foreclosure.

Following are some details that may be of help to you if you are facing foreclosure. If you are currently in foreclosure, you are probably being bombarded with letters from investors, wanting you to basically give your property to them with little or no money to you, and attorneys wanting you to file bankruptcy. Some investors actually knock on your door and ask if your property is for sale. If you are not receiving these letters, phone calls, or visits yet, you will within the next few days.

We are a licensed Real Estate Brokerage in the State of Georgia.  We have found that many homeowners are taken advantage of by mortgage companies and investors when facing a foreclosure. Do not deed or lease purchase your home to an investor, file bankruptcy, or abandon your property before speaking with our office. We are real estate professionals who help Homeowners to stop foreclosures every month.

We are sure your property being in foreclosure is overwhelming enough without all the investors contacting you and making the situation even harder. We can stop the bombardment of investors by representing you in the sale of your property as we do with other sellers every month. We can negotiate with the lender and foreclosing attorney on your behalf. If a sale is necessary, which should be you last alternative, you do have several options. If your property is on the market, many times we can get the foreclosure postponed to give us time to get your property sold. If a quick sale is necessary, we will not only contact all the investors currently harassing you, but also get in touch with our large pool of buyers to get the best possible price for your property.

There are ways to possibly stop your foreclosure if you want to keep you property or to give you time to sell the property and not loose all of your equity. You have the ability to sell, if necessary, up until the day of foreclosure. If you do decide to sell your property yourself, I would recommend you getting offers from as many sources as possible. I would call all the “I buy houses” adds in the paper and respond to all the letters as soon as possible to see who would give me the best deal. Most of these investors do not have the cash or the credit to buy your property, but want you to sign their house over to them and assume your loan – this still leaves you responsible for the loan until it is paid off. This is called buying your property "subject to" the existing mortgage. This should be your last alternative before foreclosure. I would not accept a contract from anyone who could not produce a “verification of funds” letter proving that they are able to purchase your property.

There are 4 steps you need to take immediately if you are in foreclosure:

1. List your home with a qualified Real Estate Agent who understands foreclosures, knows how to negotiate with all parties involved, and helps to stop foreclosures every month. Listing your home will help convince the mortgage company you are going to contact next through the foreclosing attorney's office that you are serious.

There are 3 things you need to request from the foreclosing attorney. The foreclosing attorney is the attorney that sent you the foreclosure letter. At this point, the Mortgage Company usually will not discuss the property with you. They will refer you to the foreclosing attorney.

The three things you need to request are:

1. Hardship Package - This provides the information the mortgage company needs to work out a payment plan. Always include a short letter explaining the reason for the foreclosure, how things are different now, and how much extra above your payment every month you can now pay to catch up the mortgage.  it is best to always handwrite your hardship letter.  Grammar and spelling errors are ok.  This letter does not have to be perfect.

2. Reinstatement Quote - This is the amount of money you will need to bring the loan current.

3. Payoff - This is the amount needed if a sale is necessary to pay off the loan and sell the property.

I hope I have been some help to you. The problem is, every day that passes turns the odds further against you. Some of these procedures take time to complete and you are under a deadline. We will show you how to STOP THIS FORECLOSURE NOW. There’s no obligation or cost to you. You have nothing to lose by filling out the following contact information and I will contact you as soon as possible or I can be reached by phone at 770-310-3782.

I will be looking forward to hearing from you,

Buddy Corbin - Broker