If you have been notified that your home will be auctioned on your county’s courthouse step in April, you are NOT alone. In his article published in the AJC March 16, 2009, Kevin Duffy reports that over 10,000 Georgia homes face the possibility of foreclosure.
Georgia is a non-judicial foreclosure state, so there will be hearing for you if you are Georgia homeowner under the gun. If you face foreclosure, you have limited defenses and if your lender won’t play ball, your best bet may be filing for bankruptcy.
Recent press in the AJC covering homeowners using “show the me note” as a strategy to delay foreclosure did not interview Georgia homeowners or attorneys, and that is because “show me the note” WON’T work in Georgia in most cases. No hearing before your house is auctioned means no opportunity for you to demand the lender produce much of anything.
In bankruptcy court, however, there is an opportunity to meet your creditor and prove how much you’ve paid, how much your house is worth, and how much you really owe. And if Congress Acts to pass the pending bankruptcy reform bill (now active in the Senate as S. 61) things might change a lot.
Keep your ear to the ground–and if you know your about to lose your house, call a bankruptcy attorney to discuss your options.