Facing an Atlanta Foreclosure? Receiving a letter of foreclosure from your lender is quite disturbing, although you most likely were well aware that it was coming.
It’s upsetting just the same and if you can do something to stall the process perhaps you can use the time to get back up and dust yourself off.
Receiving a letter of foreclosure from your lender is quite disturbing, although you most likely were well aware that it was coming. It’s upsetting just the same and if you can do something to stall the process perhaps you can use the time to get back up and dust yourself off.
For many people in Atlanta, foreclosure occurs because they have a temporary setback and just can’t seem to catch up. Stalling the foreclosure might be all the time they need to correct their financial bump and move forward. The lender may have paperwork missing from your original loan documents and can’t legally go through with the foreclosure until the paperwork is produced. Most foreclosures go through without the papers, though, and most people don’t know to ask for it.
If you are facing foreclosure in Atlanta and want to stall for more time, you can simply ask them to produce the original note. With the flurry of loan activity that was typical of lenders a few years ago, most of those loans have been sold to other investors and may even have been sold several times over. Believe it or not, you might find that the lender doesn’t have your original note as it was lost somewhere along the line.
In states where the lender must sue you to foreclose, the legal action cannot continue if you have asked for the note and the original paperwork with your signature and they cannot find it. This sounds farfetched, perhaps, but it’s actually more common than you might think. Once you have officially asked to see the papers, the lender will have 30 days to show them. If not, the judge may order that they produce the note.
While this may not get you out of your Atlanta foreclosure, it’s certainly worth exploring if you need more time to try and remedy your situation. Buying yourself time could be just enough to pull off a short sale. You can sell to an investor and pay off the lender.
A real estate investor will offer you something for your house. If you owe a great deal on your mortgage and the market value is less than what you owe, a short sale may be what you need to do. In that case, the lender could accept less than what you owe and call the loan paid off. This is one way for you to avoid foreclosure.
Put Your Atlanta Foreclosure on Hold!
Contact us. We are professional home investors who can help stop foreclosure in Atlanta. We can offer win-win solutions… and we won’t waste your time. Allow us the opportunity to offer you our solution, help save your credit and prevent foreclosure.
