Fulton Georgia Sample Letters - A Package of Sample Letters and Forms for Foreclosure
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How to fill out Sample Letters - A Package Of Sample Letters And Forms For Foreclosure?
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FAQ
Georgia has a non-judicial foreclosure process. This allows a mortgage holder to foreclose much more quickly and simply than in many other states. The mortgage holder must run a notice in the official legal organ (newspaper) for the county where the property is located. The notice is run for four (4) consecutive weeks.
To get a deficiency judgment in Georgia, the lender must file a report of sale with the superior court of the county in which the land is located within 30 days after the nonjudicial foreclosure sale.
Your letter should start with an introduction of who you are and what kind of loan you are applying for. Lead into your story with something like "We want to explain our foreclosure from six years ago." Then, launch right into the details that led you to lose your home. This is not the time to be shy or modest.
Foreclosure Procedure a step by step complete guide Step 1 Find the nearest branch.Step 2 Submit an application.Step 3 Submit all the required documents.Step 4 Pre payment of the outstanding loan.Step 5 Receipt of documents.Step 6 Inform the credit rating agencies.
Under standard procedures, a foreclosure letter for home loan is addressed to the lending branch's manager, with necessary personal details of the borrower. When filling up the request letter, provide loan account details like the account number, type of loan, prepayment amount, and the date of prepayment.
Georgia is a non-judicial foreclosure state. That means the lender can foreclose on your home without filing suit or appearing in court before a judge.
If you want to repay the loan before the loan tenure, the lender may levy a prepayment penalty, which is called foreclosure charges. The lender charge prepayment penalty to cover the lost interest revenue from the early closing of the loan.
It can be very complicated, however, it may be broken down into four basic steps. Step 1 A 30-day Notice of Intent to Foreclose. A lender is required by law to notify the borrower 30 days prior to scheduling a foreclosure sale.Step 2 Publicized Sale.Step 3 Reinstating the Loan.Step 4 A Foreclosure Sale.
Georgia is among a few states with the shortest foreclosure timeline. The average foreclosure process from the issuance of the Notice of Default can take as little as 60 days in Georgia, whereas the national average is closer to four months.
The Foreclosure Statement will be processed within 15 working days from the date of request. Please place this request to know the principal amount outstanding for closure of loan and applicable charges.