Stopping Foreclosure in Georgia
If you are worried that you may lose your home or vehicle, it is important to contact a bankruptcy lawyer immediately. The sooner you take action, the better your chances of saving your house and car. The attorneys at Ward & Spires, LLC, can help you stop or stay foreclosure and repossession.
Clay Ward and Joe Spires each have 20 years of experience as a bankruptcy attorney. He knows Georgia law and can help you determine if bankruptcy is right for you. Please call our office atto schedule an appointment with an Augusta foreclosure prevention attorney.
How Bankruptcy Affects Home Foreclosure and Car Repossession
In Georgia, real property can be foreclosed on within 45 days. If you have already received notice of foreclosure, we can still help you. We are able to file quickly to stay the foreclosure. Once we discuss your budget, we will file either Chapter 7 or Chapter 13. Chapter 7 will only stay the foreclosure while the bankruptcy is in process. Chapter 13 allows you to put your mortgage arrearage into the repayment plan.
You will continue making mortgage payments, but the monthly amount may be reduced. Mortgage companies offer loan modification agreements, which are helpful to some people. However, the paperwork can be confusing and there is no guarantee that the mortgage company will approve you for modification. If you are denied, foreclosure proceedings may begin almost immediately. A good option may be to let us prepare the bankruptcy filing while you apply for a loan modification; if you are denied, we can immediately file bankruptcy for you.
Georgia law allows lenders to repossess a vehicle after you miss just one payment, without notifying you first. You have 10 days after receiving a written notice of the repossession from the lien holder to redeem your car. If you file for bankruptcy within that time, you may be able to get your car back. Mobile homes are considered vehicles if they are not underpinned and may be repossessed in this manner as well.
For a consultation, please callor contact us online today.