Avoid Foreclosure Prevention Scams

Have you ever been tempted by a foreclosure rescue advertisement? Are there really "little known rules" that offer homeowners a "bailout?" Are there "secrets the mortgage companies don't want you to know?"

I hate to burst the foreclosure rescue myth but in reality there are no secret strategies to stop foreclosures. This reality is especially relevant in Georgia, which allows non-judicial foreclosures. If the mortgage company has started foreclosure against you in Georgia, they do not need to get permission from any court - instead the lender need only advertise a notice of foreclosure in the newspaper for 4 weeks.

You can lose title to your house via foreclosure in as little as 37 days.

Once you have gone into default and the lender has referred your file to a foreclosure law firm, there are only three things that can possibly stop the foreclosure:

1. The lender can voluntarily call off the foreclosure - this is rare but can happen if you can put your hands on enough money to pay off your entire mortgage, or if the lender acknowledges that they did not follow the notice rules.

2. You can obtain a court order in your county Superior Court blocking the foreclosure on some legal basis - difficult to do and expensive

3. You can file a Chapter 13 bankruptcy.

At best a non-attorney foreclosure rescue service can try to work out a payment plan before any default happens. Once your loan has been accelerated and you loan has been referred for foreclosure, there is nothing they can do.

We have seen some scams where foreclosure rescue companies have you sign paperwork to start a Chapter 13. This will stop the foreclosure, but only temporarily, and this emergency Chapter 13 case will almost always fail.

Bankruptcy judges in the Northern District of Georgia courts regularly issue injunctions seeking to stop the activities of non-lawyer foreclosure rescue companies. But as soon as they shut one down, another opens using a different name.

Here's a word to the wise - if you are facing a possible foreclosure, talk to a lawyer, not a foreclosure rescue company. Most personal bankruptcy lawyers will talk to you at no cost and thanks to competition, legal fees if you decide to proceed are very reasonable.

Want more information about legitimate strategies to stop a Georgia foreclosure? Visit the Ginsberg Law bankruptcy web site at http://bit.ly/stop-georgia-foreclosure or call us at 770-393-4985

Jonathan Ginsberg
Ginsberg Law Offices
Atlanta bankruptcy law
770-393-4985

Видео Avoid Foreclosure Prevention Scams канала Personal Bankruptcy Law Atlanta