Received A Foreclosure Notice, Now What?

{This is for properties that receive foreclosure notices in the state of Georgia}

My Mom calls them “Nasty Grams” – those letters you get from creditors asking for money or the letters from the HOA about removing that trash can from view.  However, the Nasty Gram of all Nastiness is the foreclosure notice.  To be official it needs to come from an attorney.   It usually starts with:

NOTICE OF SALE UNDER POWER GEORGIA, GWINNETT COUNTY Under and by virtue of the Power of Sale contained in a Security Deed given by Your Name

This will be followed by a lengthy legal description, loan company and amount owed, but what you are looking for is:

within the legal hours of sale on the first Tuesday in

IF you have a date on there, then it’s not a “threaten” letter from the attorney, it’s the real deal.  I would love to say you have nothing to fret if you received a foreclosure notice (also known as a Notice of Default) but time is really of the essence if you want to try to postpone the foreclosure to pursue a short sale.  We can usually help you if we have at least 30 days, but by the time you receive the notice you may only have 20 days, so you must act quickly!!!