Best Foreclosure Lawyers in Marietta

About Foreclosure Law in Marietta, United States

Foreclosure is a legal process that happens when a homeowner fails to make mortgage payments, causing the lender to take action to reclaim the property. In Marietta, Georgia, which is located in Cobb County, foreclosure procedures are governed primarily by state law and involve a series of steps that must be followed by the lender. The standard foreclosure process is non-judicial, meaning it does not generally require court involvement unless there is a legal dispute. Understanding how foreclosure works in Marietta is crucial for homeowners facing difficulties, as well as for those interested in purchasing foreclosed properties.

Why You May Need a Lawyer

There are several situations where working with a lawyer can make a significant difference during foreclosure in Marietta. Legal assistance may be needed if you believe the foreclosure process was not properly followed, if you are seeking to negotiate a loan modification, or if you want to pursue programs to save your home. A lawyer can help you understand your rights, identify any possible defenses to foreclosure, and represent you in court if needed. Additionally, legal guidance can assist with short sales, deed in lieu of foreclosure arrangements, or even bankruptcy proceedings if you are considering all available options to prevent losing your home.

Local Laws Overview

In Marietta, the foreclosure process is primarily governed by Georgia state law. Here are some key aspects:

• Georgia is a non-judicial foreclosure state, meaning lenders do not have to get a court order to foreclose if the mortgage includes a power of sale clause.
• The lender must send the borrower notice of intent to foreclose at least 30 days before the foreclosure sale. This notice must be sent by certified mail, return receipt requested.
• The foreclosure notice must also be published in the official county newspaper for four consecutive weeks before the scheduled sale.
• Foreclosure sales in Cobb County typically take place on the first Tuesday of the month on the steps of the county courthouse.
• Georgia law does not require lenders to offer loss mitigation options, but federal laws may provide additional rights regarding loan modification or mediation.
• Deficiency judgments are permitted in Georgia but require judicial approval within 30 days of the foreclosure sale.
• Georgia does not provide a statutory right of redemption after a non-judicial foreclosure, meaning former owners generally cannot reclaim their property after sale except in rare circumstances.

Frequently Asked Questions

What is non-judicial foreclosure?

Non-judicial foreclosure is a process where the lender can foreclose on a property without having to file a lawsuit or go to court, provided the mortgage or deed of trust includes a power of sale clause. Most foreclosures in Marietta proceed this way.

How long does foreclosure take in Marietta?

The foreclosure process can move quickly in Georgia. Once a borrower is in default, the lender must give 30 days' notice before the sale, and the whole process can take as little as two to three months from the initial missed payment.

What options do I have to stop a foreclosure?

Options to stop foreclosure may include loan modification, repayment plans, reinstatement, foreclosure mediation, selling the property (including a short sale), or filing for bankruptcy. Consulting a lawyer is highly recommended to review your options.

Do I have to move out immediately after the foreclosure sale?

No, you will typically be given a period of time to vacate the property. If you do not leave, the new owner may begin eviction proceedings in court.

Can I recover my home after foreclosure?

Georgia does not offer a statutory right to redeem the property after a non-judicial foreclosure sale in most cases, so once the sale is final, former owners have very limited options to recover the home.

Will foreclosure affect my credit?

Yes, foreclosure can have a significant negative impact on your credit score and may remain on your credit report for up to seven years.

What is a deficiency judgment?

A deficiency judgment is when the lender sues you for the difference between the amount owed on the mortgage and the amount the home sold for at foreclosure. In Georgia, the lender must seek court approval within 30 days after the foreclosure sale.

Can I sell my house if I'm facing foreclosure?

Yes, you may sell your home prior to the foreclosure sale, even if you are behind on payments. If the sale amount is less than what is owed, it is called a short sale, which usually requires lender approval.

What should I do if I receive a foreclosure notice?

If you receive a foreclosure notice, contact your lender immediately to discuss possible options and reach out to a foreclosure attorney for guidance on your rights and possible defenses.

Are there resources for free or low-cost legal help in Marietta?

Yes, there are organizations and legal aid societies that may provide assistance to homeowners facing foreclosure if they meet certain income or eligibility criteria.

Additional Resources

If you are seeking more information or support regarding foreclosure in Marietta, consider the following resources:

• Cobb County Superior Court Clerk - for public records and legal filings related to foreclosure
• Georgia Department of Banking and Finance - oversight and information related to mortgage lenders
• The United States Department of Housing and Urban Development (HUD) - certified housing counseling services
• Atlanta Legal Aid Society - legal assistance for qualified applicants facing foreclosure
• Georgia Legal Services Program - statewide legal aid for low-income residents
• Consumer Financial Protection Bureau (CFPB) - educational materials and complaint assistance

Next Steps

If you are facing foreclosure or are concerned about your property's status, the most important step is to act quickly. Gather all documents related to your mortgage and any communications from your lender. Contact a Marietta-based foreclosure attorney or a local legal aid organization for advice as soon as possible. They can help you understand your rights, review your specific situation, and develop a strategy to protect your interests. If you are considering selling your home or seeking a loan modification, start these discussions before the foreclosure process advances. Early intervention is often critical in finding the best possible outcome.