Category Archives: Foreclosure
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In short, YES. Filing a bankruptcy, whether it be Chapter 7 or Chapter 13, will stop the foreclosure process. However, filing a Chapter 7 bankruptcy may not stop the process permanently. When a Chapter 7 bankruptcy is filed, an “automatic stay” goes into effect. This “stay” stops, or at least temporarily prevents collection actions against… Read More »
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Good news for some struggling Georgia homeowners who have been “hit the hardest” by the economy. A program to “prevent foreclosures” has been launched by the State of Georgia, Department of Community Affairs under the name Home Safe Georgia. The stated purpose of the program is to help GA homeowners who have lost a job… Read More »
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In an earlier blog, we noted that in February, 2012, an historic National Mortgage Settlement (NMS) was announced with five of the largest mortgage servicers: Bank of America JPMorgan Chase Wells Fargo Citimortgage Ally/Gmac (Ally) The settlement addressed charges that these five creditors had “robo-signed” foreclosure affidavits and “back-dated” foreclosure documents in order to speed up foreclosures… Read More »