About the Georgia Foreclosure Process

A Step-by-Step Guide on Georgia Foreclosures

Have you fallen behind on your mortgage payments? Or have you already received a foreclosure notice from the bank?

About the Georgia Foreclosure Process

The foreclosure process is different for many states. It can be very complicated, however, it may be broken down into four basic steps.

Step 1 – A 30-day Notice of Intent to Foreclose

A lender is required by law to notify the borrower 30 days prior to scheduling a foreclosure sale. The notice usually includes a copy of the foreclosure advertisement published in the official county newspaper (see “Notice of Sale” below), and must include the name, address, and telephone number of the individual or entity with full authority to negotiate, amend, and modify all terms of the loan. There are specific parameters that must be meet when providing this notice and if not met, then the notice and the foreclosure can be deemed invalid.

Step 2 – Publicized Sale

The lender must run a public advertisement for at least four weeks. This advertisement must be in an official, county newspaper where the property is located and must run at least once a week for four weeks before the sale.

Step 3 – Reinstating the Loan

At this point, the borrower has the option to reinstate the loan. In Georgia, residents have the right to pay back money owed and reinstate the loan up to 5 days before the foreclosure sale. In some limited circumstances, a loan can be reinstated before the foreclosure sale is even scheduled.

Step 4 – A Foreclosure Sale

If a borrower is unable to pay the money owed and reinstate the loan, then a lender has the right to hold a foreclosure sale on the first Tuesday of the month.