1, 758 Cobb County properties are slated to be auctioned on Tuesday, December 7th starting at 10am, which will be the largest ever. Prior to homes being foreclosed, legal notices must be published for four consecutive Fridays before a property can be sold at auction. Not all of the 1, 758 properties will necessarily end up at auction and the banks will typically only sell a small percentage if the price isn’t right and will in turn market the property for sale through real estate agents.
We’ve reviewed the properties slated for auction and the most alarming issue is that most of these properties were not previously listed. Homeowners have many options to avoid foreclosure including loan modification, short sales, etc. Prior to foreclosure, homeowners can be proactive in finding a solution and it’s important to understand that there are solutions and foreclosure should be viewed as the last resort.
Foreclosures can have long-lasting effects on homeowners and it’s important to understand why you want to avoid foreclosure. Foreclosures not only impact your credit score, but can impact security clearances, job applications, etc.
We have created an Atlanta resource for distressed homeowners to learn more about foreclosure and many of their options to avoid foreclosure. For many homeowners, this involves a “short sale” where you work with the bank to sell your home for less than what you owe on it.
It is a win-win for both the homeowner and the bank as there are benefits for both parties. For short sales to be successful, homeowners must be proactive and honest with themselves if they are behind on their payments or know they will soon miss a payment as you don’t want to wait until the last minute.
Click here to learn more about Atlanta short sales and foreclosures. Or contact us today to schedule a confidential asse