What is Foreclosure in Warner Robins, Georgia?

Find the right Foreclosure Bankruptcy attorney in Warner Robins, GA

Foreclosure is the legal process by which the lender in a mortgage arrangement takes possession of the property (typically a house) that secured the loan. This is done when the Warner Robins, Georgia debtor has repeatedly failed to make their payments. When a house is foreclosed, it is typically sold at auction shortly thereafter. This is because banks typically want to get rid of the property as soon as possible, even if it means losing some money, and an auction is an easy way to do this.

In all states in the U.S., including Georgia, there is an option to go through foreclosure via judicial sale, in which a court oversees the sale, and makes sure that the proceeds first go to the lender, and then to any other entities that might have a lien or other interest in the property (in order of priority), and, finally, to the borrower, if anything is left. In many states, original mortgages are considered non-recourse loans, meaning that if the house is foreclosed and sold for less than the debtor owes, the bank cannot go after the debtor for the remainder. You should consult with an attorney in Warner Robins, Georgia to see if this is the case. However, this typically doesn't apply if the mortgage has been refinanced.

How Can I Avoid Foreclosure in Georgia?

First, you should never ignore the matter. As unpleasant as it seems, it is essential to stay on top of the issue. Ignoring the problem will never make it go away. You should keep in mind that banks typically don't want to take your Warner Robins home. They aren't in the real estate business, and expect to make money through interest on the loan, not by selling your house. If you are up-front with them early on, they will probably make a reasonable effort to accommodate your financial system if it will keep you from defaulting.

If you can't work things out with your lender, there are other options. You could try a "short sale," which is when you sell your house for whatever amount you can get for it, and use the proceeds to pay your mortgage. If the house sells for less than you owe, the bank still gets those proceeds, but the remainder of the loan will be forgiven. You might also consider a "short refinance" which allows a chunk of the debt to be forgiven, and lets you refinance the rest.

How Can A Warner Robins, Georgia Attorney Help?

If you are facing the possibility of foreclosure, a good Warner Robins, Georgia real estate attorney can help. At the very least, they will be able to inform you of your legal options.

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Life in Warner Robins

Warner Robins, Georgia is located in two counties in Georgia -- Houston County and Peach County. The dual-county city has a population of close to 50,000 residents. The city was originally named York before settling on its' current name in 1947.

Because of the presence of Robins Air Force Base, which attracts people from all around the world, the city is nicknamed "International City." The base is also the state's largest employer in a single location -- providing over 21,000 jobs to local residents. The Museum of Aviation is also a popular place to visit, located right next to the base.

In addition to being a great place to work, Warner Robins has also been named one of Georgia's best places to raise a family by Business Week. Not surpringly, Warner Robins is also a great place to find a lawyer. Whatever the legal issue is, Warner Robins lawyers are available to help a client navigate through the often confusing legal landscape of a problem.

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