Savannah Foreclosure Defense Attorney

Stop the Foreclosure on Your Home Through Bankruptcy

If you’ve fallen behind on your home mortgage, a Chapter 13 bankruptcy may be the best way to give you the opportunity to catch up on your delinquent mortgage payments. The cost of housing in Savannah and the surrounding areas has increased over the past several years and, in many cases, your monthly mortgage payment may be less than the cost of renting an apartment. Bankruptcy can help you keep your house and get you current with your lender.

Don't Hesitate to Take Action

If you believe your lender may be about to foreclose on your home but you are not certain, it is vital that you take action. Call your mortgage lender to find out from them directly the status of your loan. Ask specifically whether your mortgage has been referred to an attorney for foreclosure. Our firm has found that clients will often believe that they are in the process of a loan modification with their lender when, in fact, another department in the mortgage company is simultaneously taking action to foreclose.

Work With An Experienced Lawyer To Save your Home

If you need legal counsel regarding how to save your home through bankruptcy, call on the Law Offices of Mark A. Bandy, PC. Backed by more than 20 years of practice that has concentrated primarily on bankruptcy solutions, our attorney has vast knowledge of the state and federal laws governing this action. Attorney Bandy can help you understand the procedures, what to expect, and can help you come up with a bankruptcy plan tailored to your needs and goals. We will work hard to pursue an affordable monthly repayment plan through a Chapter 13 filing that is in your best interests.

Understand your options and how bankruptcy can save your home from foreclosure. Contact Law Offices of Mark A. Bandy, PC online to request a free case analysis or call (912) 331-4501. Our Savannah foreclosure lawyers are ready to help.

What is the Foreclosure Process?

In Georgia, there are two types of foreclosure processes: judicial and non-judicial. The most common type of foreclosure is non-judicial because it is quicker and cheaper than litigation.

During a judicial foreclosure, the lender must file a lawsuit asking the court to allow a foreclosure sale. If you do not respond, they will win the case and will be granted a sale of your property. If you respond, the court will review the evidence that you present and determine who wins the case. If the lender wins, then your property will be sold at an auction.

In a non-judicial foreclosure, the lender will complete the process as it is outlined by Georgia state law. When the lender completes the steps, then the property can be sold at a foreclosure sale.

Below is an overview of the non-judicial foreclosure process in Georgia:

• Notice of intent to foreclose: lender sends the borrower a notice of intent 30 days before the scheduled foreclosure sale.
• 10-day attorney’s fees notice: the lender’s attorney will send the borrower a notice
• Publication of the notice of sale: lender advertises the sale in the newspaper for 4 weeks before the scheduled date.
• Foreclosure sale

How Long Does Foreclosure Take?

Foreclosure is a legal process that allows a lender to take possession of a property when the borrower defaults on their mortgage payments. In Georgia, the foreclosure process typically takes between 60 and 90 days or but it can vary depending on the circumstances of the case.

How Long Can You Go Without Paying Your Mortgage?

You cannot simply be evicted if you fall behind on your mortgage payments. In most cases, the foreclosure process starts when the loan is more than 120 days past due. This waiting period allows debtors to find options that will work for them such as obtaining a loan modification.

How Does Chapter 13 Stop Foreclosure?

Once you file for a Chapter 13 bankruptcy, the court will issue an “automatic stay,” that prohibits all creditors from continuing their collection efforts. This stay also stops the foreclosure process.

Chapter 13 bankruptcy allows you to repay your mortgage delinquencies through the bankruptcy court in one affordable monthly payment over a three to five year payment plan. This allows you to catch up on your mortgage arrears. However, during that time you will have to also resume making your regular monthly mortgage payments.

Catching up on your mortgage arrears is done through your bankruptcy trustee who will forward your payment to your lender. The bankruptcy trustee is appointed by the court to supervise the administration of your repayment plan for as long as it has been set. Once the plan has been completed, you should be back in control of your finances. If your have more questions, our foreclosure attorneys in Savannah are happy to assist you.

Time Is of the Essence – Call the Law Offices of Mark A. Bandy, PC

When facing the prospect of a foreclosure on your home, it is essential that you do not wait until the last minute to contact us. Foreclosures in Georgia occur on the first Tuesday every month; if you wait until the Monday before your scheduled foreclosure the next day, you will need an emergency bankruptcy petition. This will generally result in a substantial upfront fee to handle this extra complication. Contacting us at least two to three weeks earlier will generally result in an avoidance of additional large upfront fees. Our Savannah foreclosure attorneys are ready to help. Contact us today!