How to Stop Foreclosure in Georgia

How to Stop Foreclosure in Georgia

Many homeowners in Georgia are feeling the effects of a declining economy and housing market. Georgia homeowners who are going through the foreclosure process on their home have a few ways that they can stop foreclosure.

Find out what your mortgage or deed of trust says about foreclosure. The first thing you need to do is read your mortgage or deed of trust to find out if it allows for you to stop the foreclosure by paying off the deafult amount, plus any applicable fees associated with the foreclosure. If your mortgage or deed of trust allows tthis hen proceed to Step 2. If your mortgage or deed of trust does not allow for this, then proceed to Step 3.

Pay off the default amount. If your mortgage or deed of trust states that you can stop the foreclosure by paying the default amount and any applicable fees, then contact you mortgage lender to obtain the total default costs you owe. Once you find out the amount you owe and you have the funds available, you can pay the mortgage company this amount.

Pay off the entire balance. Whether or not your mortgage or deed of trust allows you to pay the default amount to stop foreclosure, you always have the option of paying off the total balance of the mortgage, which also stops the foreclosure process.

Stop the foreclosure. In the state of Georgia, you can either pay the default amount or the total balance of your mortgage and it will stop the foreclosure process.

Read more: How to Stop Foreclosure in Georgia | eHow.com