FORECLOSURE DEFENSE NEWS AND INFORMATION - Georgia

Throughout the United States, real estate values have plummeted, while foreclosure rates have skyrocketed. During the past year, Georgia has had the unfortunate distinction of being one of the top ten states in terms of the number of foreclosed properties. The severity of the economic crisis in Georgia is reflected in the number of bank failures occurring in this state: 14 during the past nine months.

There is a ray of hope for homeowners in distress: lenders have shown increasing flexibility in making arrangements to permit homeowners to remain in their homes. However, many homeowners are unaware of the opportunities, and simply ignore the foreclosure notices and filings. Homeowners can take proactive measures, including:

• Filing answers to foreclosure complaints;
• Requesting loan modifications;
• Where continued payments are not an option, seeking permission for short sales.