You received notice from us that the mortgage company is foreclosing on your home. We obtained this information from a service that monitors public records in which the mortgage company is required to post foreclosure information – like your local newspaper. The mortgage company has set a foreclosure date which is scheduled for the first Tuesday of next month. Foreclosures in the State of Georgia occur on the first Tuesday of each month (unless it is a holiday and then it occurs on Wednesday), and the mortgage company is required to post the foreclosure notice in the newspaper 4 weeks before the foreclosure date. In addition, the mortgage company is required to provide notice of the foreclosure by mail to your last known address.

Your mortgage company has hired an attorney to handle the foreclosure process for them. Any notices you receive in the mail will come from the foreclosing attorney. You may be in the process of working with your mortgage company to obtain a loan modification. We suggest that you continue to work with them but that you DO NOT let the foreclosure date pass without something in writing stating that the foreclosure has been stopped. Many mortgage companies will offer hope of working something out with you only to inform you at the last minute that your loan modification has been denied and they are proceeding with the foreclosure sale. If you do nothing, you home will be sold on the courthouse steps.

If you are paying on vehicles as well, we may be able to lower the interest rate and perhaps lower the principal amount that you have to pay on the vehicle. Even though a Chapter 13 is a plan of repayments of your debts over a 3-5 year period of time, it does not mean that you will have to pay 100% to your unsecured creditors.   We may be able to eliminate your credit card debt, medical bills, and unsecured loans by getting you into a 0% plan if your financial situation allow it.

If you would like to explore your options under bankruptcy, please contact our office so we can refer you to a bankruptcy attorney who will review your financial situation and give you an estimated amount for your Chapter 13 plan payment. They can file a case electronically any time before the foreclosure occurs so, as long as your property has not been sold on the courthouse steps, you can stop the foreclosure with a Chapter 13 bankruptcy case.