The pandemic has been difficult for everyone, especially those who lost their jobs as a result. It is easy to fall behind on bills, including your mortgage, and when mortgage payments become delinquent the bank may move to foreclose on the home. If you or a loved one is facing foreclosure, it is important to know that you have legal options. Talk to the knowledgeable foreclosure defense attorneys at the Cornwell Law Firm in Duluth today to schedule a consultation and learn more.
Georgia Foreclosure Proceedings
In Georgia, homeowners typically have only 30 days from the day that they receive notice of foreclosure to take action in the case. After payments have been missed, the lender must provide notice of the foreclosure to the homeowner. In order to avoid foreclosure and eviction, the homeowner has a few options:
- Pay the outstanding mortgage balance
- Sell the property to pay off the loan
- Short sale the property before foreclosure begins, or
- Sign over the deed to the lender in foreclosure
While state and federal laws have provided some protections to homeowners during the pandemic, banks and other lenders are still trying to foreclosure properties using whatever means they can. This has led to some unethical and outright illegal actions by lenders to try and take possession of the property through foreclosure, but an experienced foreclosure defense attorney can help.
How a Lawyer Can Help
A knowledgeable foreclosure defense attorney understands how the process works and can ensure that lenders are not trying to take advantage of you during this difficult time. An attorney can review the records of the lender to check whether the homeowner owes what the lender claims. They can also negotiate with lenders for better terms that would avoid foreclosures like a decreased interest rate or extended payment period that would allow a homeowner to continue making payments on the mortgage. A foreclosure defense lawyer can also review other options to avoid foreclosure, which includes filing for bankruptcy.
Avoiding Foreclosure With Bankruptcy
Another way to avoid foreclosure proceedings and potentially save your home is by filing for bankruptcy. Chapter 13 bankruptcy allows for a debtor to keep their assets, including their home, and repay their debts over time through a repayment plan. One additional benefit of filing for bankruptcy is the implementation of an automatic stay, which is a court order that prevents creditors from repossessing assets and from engaging in foreclosure proceedings on a home. The experienced attorneys at the Cornwell Law Firm can go over this and your other legal options to protect your home from foreclosure.
Talk to Our Office Today
Are you in need of a highly qualified attorney in the Duluth area to represent your interests in a foreclosure defense case? If so, the experienced lawyers at the Cornwell Law Firm are here to help. Call the office or contact us today to schedule a consultation of your case and learn more about your legal options for keeping your home.