Friday, July 25, 2008

Athens GA - How to avoid foreclosure

If you're past due on your mortgage payments and won't be able to catch up, here are some options that may help. Typically, you need to be 3 payments past due before you can start the process to get help from the lender.

1. Call the lender and see if they are willing to work out a new payment plan. Many times they will forgive the past due amount completely or add it to the existing balance of the loan. Either way, it reduces the amount you have to pay now. Sometimes, the lender will reduce your interest rate, extend your finance period or reduce the balance on the loan.

2. If you can't get a solution that you can work with, you may need to sell the house. Unfortunately, with the recent housing situation, many homeowners are finding that they owe more than the house will sell for. If that's your situation, the lender may be willing to accept less than the balance on the loan as full payment. This is called a short sale. The bad news is -- they won't tell you that they will accept a short sale until you have a contract to present showing that a buyer is willing to buy the house.

3. If you need to get a short sale approved, the lender will require information from you, including 2 years tax returns, current pay stub, a financial statement showing your current debts and income and a letter explaining why you are not able to continue to pay your monthly payments.

It can be very difficult to get answers from the large mortgage companies. They have so many employees and each time you call, you get a different person. Even when you are assigned to a specialist to handle the "work out", you can't call them. And it can take several weeks to get any answers.

We have been working with several mortgage companies over the past few months as well as a company that is retained by the mortgage companies to work out past due loans. As a result, we have the experience to help you get the best solution for your situation. There is no charge to you for this service. If we do list your home for sale, the real estate commission will be included in offer to the bank. A short sale will allow you to avoid a foreclosure on your credit.

If you have any questions about the process, please contact us. We will help figure out the best options for you. Jerri 706-296-4395 or e-mail:

Wednesday, July 09, 2008

Countdown to Kickoff

The third annual Countdown to Kickoff! charity event is in two weeks at the UGA practice fields.

Former UGA players Matt and Jon Stinchcomb and David Greene are hosting the event. Fans will be able to get pictures, autographs and run drills with current and former UGA and NFL players.

This fundraiser will be held on July 18 and 19th and is to benefit the following:

Georgia Transplant Foundation, Children’s Healthcare of Atlanta, The Children’s Tumor Foundation, and UGA’s Pediatric Exercise Motor Development Clinic

For more information, click here