Foreclosure

We are Foreclosure International Group. A Homeowner Membership Organization dedicated to assisting members in
mortgage negotiations and consultations nationwide. We also provide credit counseling, asset protections, financial and
estate planning.

Foreclosure International Group specializes in assisting homeowners with Pre-foreclosure, foreclosure and loan
modification problems. Our experts know how to stop foreclosure, avoid foreclosure or even recover from an existing
foreclosure eviction so you can stay in your home.

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. The procedures for foreclosure are spelled out in the Official Code of Georgia, Sections
44-14-162 through 44-14-162.4.

Here we look at foreclosure and the reasons why it may happen and what can be done if your mortgage lender decides to
foreclose on your home.

What is foreclosure?
Foreclosure is the term used to describe the process usually initiated by a bank when they see no indication that you can
continue to pay a loan or mortgage they have lent to you. In essence this means that they are about to start proceedings to
reclaim your home or other property as a substitution for the outstanding amount of money.

What brings About foreclosure?
If you have taken out a mortgage and are behind with the payments, the lender can decide that they have made all
reasonable attempts to (1) contact you regarding your arrears or (2) have no reasonable chance of recovering the loan
amount from you. A default can also occur due to things such as failing to maintain property insurance or pay your
property taxes.

Foreclosure process
In the state of Georgia if either of the aforementioned options is the case your mortgage lender can initiate the foreclosure
process, the holder of your mortgage must send notice to the borrower of its intent to foreclose. The borrower will not get
much advance notice – Georgia law requires that the notice be sent at least 30 days before the date of the proposed
foreclosure sale. The notice must be in writing and include the name, address, and telephone number of someone who has
authority to negotiate, amend, and modify the terms of the mortgage with the borrower. The notice must also be sent to the
borrower by registered or certified mail or statutory overnight delivery, return receipt requested, and include a copy of the
advertisement of the foreclosure sale that will be published in the official county newspaper for public announcements, by
advertising your property in the paper and forwarding you a dispossessory notice after the property has been sold. This
dispossessory notice means that you must either vacate the property or appear before a judge and give reasons as to why
you have not been able to pay the mortgage or loan back as originally agreed.

At this point you will be given the opportunity to state your case to the judge who may, depending on the nature of your
reasons and whether or not you can back this up with proof, decide to give you more time to pay the arrears. If he or she
makes this arrangement you will have a set period of time to clear the arrears while still making the required payments. At
this time the judge will suspended the dispossessory notice.

Foreclosure and dispossessory notice
If you have been able to prove that the reason you are behind with your repayments was beyond your control and you are
able to convince the judge that you have an acceptable recovery option and the judge has allocated you more time then he
or she will issue the Suspended dispossessory notice. This order allows you more time to pay but safe guards the
mortgage or loan lender by stipulating that if the arrears are not cleared by a stated date then foreclosure proceedings can
continue thus resulting in eviction.

In essence a suspended dispossessory notice is a delay in proceedings and is designed to give all parties time to come to
an amicable arrangement. If no agreement can be reached, i.e.: the lender refuses your offer, then the judge can step in and
make what he or she thinks is a fair repayment plan. It is worth noting at this point that the judge’s decision is final and
must be adhered to by all parties.

Foreclosure and eviction orders
If you have reached the stage where an eviction order has been made then unfortunately the foreclosure process moves
forward. The foreclosure sale will take place on the courthouse steps in the county where the property is located. By law,
foreclosure sales take place on the first Tuesday of the month between the hours of 10:00 a.m. and 4:00 p.m. Bidding is
open to the public.

The mortgage holder will sign a deed of foreclosure to the winning bidder, which often is the mortgage holder themselves.
The new owner now has the right to enforce eviction proceedings.

In situations where the foreclosure sale does not produce enough cash to pay the loan balance in full (after deducting
expenses and accrued unpaid interest). The lender may elect to obtain a personal judgment against the borrower for the
unpaid balance. A judge will generally examine how the sale was conducted to determine whether the property was sold for
its fair market value.

The lender must enter a minimum bid equal to at least the fair market value of the property for the sale to be confirmed.

No matter what stage of the process you are in be it pre-foreclosure, post foreclosure or facing eminent eviction our
experts are prepared to assist you in saving your home.

Do you know about Foreclosure International Group’s mortgage renewal program? This program has helped many people
avoid bankruptcy, or loss of their home to foreclosure. It only takes 24 to 48 hours to put you in this program!! You are
able to stay in your home. Many people put off dealing with impending foreclosure problems to their own detriment. This
is a tremendous opportunity to you as a homeowner as you have an excellent case for special relief under our mortgage
renewal program.

A working knowledge of foreclosure law is critical in understanding how to resolve your financial hardship and stop the
legal action against you. We will work with you the lender and the attorneys to forestall, prevent or mitigate a foreclosure
sale