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How do you find out if your house is in foreclosure?
Hi.....so I was wondering what is an easy way to find out if your house is in foreclosure?? Or if it has already been sold or something. By the way i live in Georgia if that helps.Thanks in advance:)
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Do you own the house and the mortgage? If so, the bank will tell you they are going to foreclose. They are required to. They are also required to send you a letter 30 days before house goes up for auction.
They generally give you two written warnings after you begin to miss mortgage payments, and they certainly phone you as well - a lot.
The banks don't want to foreclose peoples homes, generally speaking. They want their money, not the house. The money is worth far, far more to them then the house. Speaking to the bank calmly and respectfully at this point, after you've missed a payment or two, might help you avoid foreclosure.
If you can't reach an agreement with the bank, eventually the bank sends a particularly stern letter demanding payment for the entire value of your mortgage.
After that, if you still can't come to an agreement with the bank, they generally has to file a notice of foreclosure with the Sherriff. So if you don't know if the bank is attempting to foreclose or not, you could call your local sheriff's office. In the states banks are also required to post legal notices, often in local papers, so you can look there too.
If your home is ALREADY foreclosed (and it's unlikely that could happen without you hearing about it!) and someone else has bought it at auction, then the home's new owners have the power to evict you.
If you own your house, and have not made your mortgage payments, the best thing you can do right now is call your bank, and be willing to talk to them. The earlier you start to be proactive, rather than ignore or avoid them, the easier it could be. The bank would rather have your money than your house.
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