General information, not financial or legal advice. A HUD-approved housing counselor can review your situation for free.
Know Your Timeline First
Federal rules generally keep your servicer from starting foreclosure until you're more than 120 days behind. After that, Georgia's non-judicial process can move to a courthouse sale in as little as 30–60 days. Read how foreclosure works in Georgia to understand each step.
1. Call Your Servicer Right Away
It's the call nobody wants to make, and the one that opens every other option. Ask for the loss mitigation department, explain what changed (a job loss, illness, divorce), and ask what programs you qualify for. Take notes, and get everything in writing.
2. Ask About Forbearance
Forbearance pauses or lowers your payments for a set period while you get back on your feet. It isn't forgiveness: the missed amount has to be repaid later. Ask exactly how and when before you agree.
3. Set Up a Repayment Plan
If the problem was short-term and you can now afford a bit more each month, a repayment plan spreads the past-due amount over several months on top of your regular payment.
4. Apply for a Loan Modification
A modification permanently changes the loan. It might lower the rate, extend the term, or add the missed payments to the balance, all to make the monthly payment affordable. Submit a complete application as early as possible. A complete application on file can pause the foreclosure process while it's reviewed.
5. Get Free Help From a Housing Counselor
HUD-approved counselors help you prepare paperwork, talk to your servicer, and understand your options at no cost. Be wary of anyone who charges upfront fees to "save" your home.
6. Sell the House Before the Sale Date
If keeping the house isn't realistic, selling before foreclosure pays off the loan, protects your credit from a completed foreclosure, and lets you keep any equity. A traditional listing can work if you have time. If the sale date is close, or the house needs repairs, a cash sale can close in as few as 14 days.
7. Short Sale or Deed in Lieu
If you owe more than the house is worth, your lender may approve a short sale (accepting less than the full payoff) or a deed in lieu of foreclosure (you sign the house back to the lender). Both are usually easier on your credit than a foreclosure. Ask whether the lender will waive any remaining balance.
Own a Rental and Can't Cover the Mortgage?
Vacancies and non-paying tenants put landlords in the same bind. The same options apply, and we also buy rentals with tenants in place if you're ready to be done being a landlord.
Talk It Through
We're happy to talk through your options, even if selling to us isn't one of them. Call or text (706) 397-4774, or request a no-obligation offer:
See also: local foreclosure and housing resources.