Atlanta & across Georgia
Falling behind is stressful, and it is more common than people admit. Many ways to get help cost nothing. This page walks through them in plain words so you can decide what fits.
A free conversation. No obligation to sell.
Your options
Some of these will not fit your situation, and that is fine. We list them so you know they exist. Which one makes sense depends on your loan, your money and how much time you have.
Your servicer is the company you send your payment to. Call the number on your statement as soon as you know a payment will be late. Ask what help they offer and what papers they need. Write down the date, the name of the person, and what they said.
A repayment plan lets you catch up over time. Your regular payment goes up a bit each month until the missed amount is paid. It tends to suit people whose money problem was short and is now over.
Forbearance pauses or lowers your payments for a set time. The missed amount usually still has to be dealt with afterward, so ask how and when. It can give you room if you expect your income to come back.
A modification changes the terms of your loan, such as the interest rate or the length, to make the payment more manageable. Lenders usually ask for proof of income and a letter about your hardship. Not everyone qualifies.
Reinstating means paying everything you owe to catch up, including late fees, in one payment by a set date. Ask your servicer for the exact figure in writing. If you can raise the money, it brings the loan current.
A refinance replaces your loan with a new one, ideally with a lower payment. It generally requires enough income, credit and equity, which can be hard to meet once you are behind. It is worth asking about early.
Selling can pay off the loan and may leave you with some money from the equity. You can list with an agent, which can take longer but may reach more buyers. Or you can sell directly to a buyer like us, which can be quicker. Compare offers, and you never have to accept ours.
In a short sale, the lender agrees to let you sell for less than you owe. The lender has to approve the sale and the price, so it takes time. Ask whether they will waive the rest of the balance, and get that in writing.
With a deed in lieu, you hand the home to the lender instead of going through a foreclosure sale. Lenders do not always agree to it. Ask if they will release you from the remaining debt, and get that in writing too.
Filing for bankruptcy can pause a foreclosure while a court looks at your debts. It also has long-term effects on your credit and finances. It is a legal decision, so talk to a bankruptcy attorney before the sale date. Many offer a free first meeting, and legal aid groups may help if money is tight.
Georgia basics
Georgia is a non-judicial foreclosure state. In most cases the lender can sell the home without first going to court.
Sales are held on the first Tuesday of the month, on the courthouse steps in the county where the home is. Before that, the lender has to send you a written notice. It generally has to go out at least 30 days before the sale. The sale is also advertised in the county's legal newspaper for several weeks beforehand.
Dates and rules can change, and every case is different. Check your own notice for your sale date, and ask an attorney about your situation. This is educational information, not legal advice.
Free help
These are nonprofit or government sources. None of them should ask you for money upfront.
A counselor can go over your budget, explain your options and help you talk to your servicer. The service is free or low cost. The CFPB's counselor finder lists HUD-approved agencies near you. You can also call (800) 569-4287.
Find a counselor ↗If your income is low, you may qualify for a free lawyer. In metro Atlanta, try Atlanta Legal Aid Society, which serves Fulton, Clayton, Cobb, DeKalb and Gwinnett counties. In the rest of Georgia, try Georgia Legal Services Program.
The Consumer Financial Protection Bureau explains your rights, what servicers must do, and how to spot foreclosure scams.
Want to talk it through?
We can walk through your options by phone. It is free and there is no obligation. If selling is not right for you, we will say so, and we will point you toward the free help above.
Before you decide
Something else on your mind? You can ask us directly.
Call 404-990-4877 ↗No. We are one choice among several. We are happy to explain how a sale would work, and you can compare it with every option on this page.
Not always. Talking to a servicer about a modification does not by itself stop a sale. Ask for any pause or postponement in writing, and keep checking the sale date on your notice.
Be careful. The Consumer Financial Protection Bureau warns that you should not have to pay anyone upfront to get foreclosure help, and that anyone who guarantees a result is a red flag. Free help is available from your servicer and from HUD-approved counselors.