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In Fact they Contain Info Homeowners

The below information is reprinted by consent. It is the special copyrighted residential or commercial property of the Fulton County Daily Report, Incisive Media © 2008. All rights scheduled.

Foreclosure notices may seem difficult to read and even more difficult to comprehend. In fact they include details homeowners, areas, property buyers and investors require to know. Monthly, as Fulton County’s official legal newspaper, the Daily Report publishes hundreds upon hundreds of foreclosure notifications.

How Foreclosure Works

When an individual obtains money to buy realty, such as a home or condo, the loan is called a mortgage and needs regular monthly payments. In Georgia, if the residential or commercial property owner falls back in making those payments, the lender can action in and sell the house at auction to settle the debt. Doing so is referred to as foreclosing on a residential or commercial property.

These auctions happen the very first Tuesday of monthly (or the first Wednesday if the first Tuesday falls on a vacation) in between 10 a.m. and 4 p.m. on the steps of the county courthouse. For residential or commercial property in Fulton County, the auctions take location in downtown Atlanta on the front steps of the Fulton County Courthouse at 136 Pryor Street.

Georgia law enables loan providers to conduct an auction without needing to go before a judge on one condition: The lending institution must provide the customer – and the general public – proper, legal notification of its plans to foreclose. Proper notification implies advertising in the county’s official legal newspaper. In Fulton County, that official paper is, of course, the Daily Report. The lending institution must advertise its intent to foreclose when a week for the four consecutive weeks leading up to the „first Tuesday“ sale date. To auction off a residential or commercial property the very first Tuesday of March, for example, a lending institution must have released a foreclosure notice during each of the 4 weeks of February.

How to Use the Information

Residential Or Commercial Property Owners: Protect Your Interests
During the weeks leading up to the courthouse auction date, many residential or commercial property owners have the ability to work things out with their loan providers, seek personal bankruptcy security or line up other arrangements to prevent the bank from selling their homes. If your lending institution has actually started foreclosure procedures versus your residential or commercial property, these listings offer you with an e alert – over and above the main notification released in full in the Daily Report – to act.
Neighbors: Know What’s Going On
Use these listings to stay informed about your community. By law, and for important reasons of public policy, foreclosure notices are for the general public to see. They can inform you whether you have a neighbor in requirement. They can help address concerns you may have about abandoned or inadequately kept residential or commercial property near you. They can provide you insights into residential or commercial property values in your community. Indeed, a foreclosure occurring in your community can affect your own residential or commercial property worths.
Homebuyers, Investors: Find a Bargain
Foreclosure notices provide valuable result in potential property buyers and investor. Houses facing foreclosure often go for deal rates. These listings, organized by postal code and street address, can assist you spot those possible deals. The summary details, of course, is just a beginning point – a lead for you to follow up on with your own research study and effort. In addition to bidding for a home on the courthouse actions, there are ways to buy the residential or commercial property in advance of foreclosure by dealing directly with the loan provider’s lawyer or the residential or commercial property owner, both typically listed on this web site. But be alerted: Buying a house dealing with foreclosure is not for the faint of heart. In basic, you must buy the residential or commercial property as is without chance for evaluation. You have to pay with money or accredited check. And all sales are final. To state the least, make certain you do your homework, do a complete title search, talk to a professional and, above all else, think two times.
Lenders: Protect Your Interests
Many residential or commercial properties are subject to more than one loan, such as a home equity loan or 2nd mortgage. If the lending institution holding the very first mortgage offers the residential or commercial property off at foreclosure, the rights of the secondary lending institutions may well be wiped out. If you have actually provided someone cash against his or her residential or commercial property, or if you hold a lien, these listings provide you with an e alert – in addition to the main notice published in complete in the Daily Report – so that you can do something about it to protect your interests.

Words of Caution

Neither the Daily Report nor The Atlanta Voice is accountable for any errors or omissions in these listings. The details appearing on this web site is neither official nor complete, however simply an abstract of the very first – run foreclosure notices appearing in the Daily Report. For the complete and official notification of foreclosure, speak with the printed Daily Report. Information in the official notices comes directly from the loan providers with no independent confirmation. These listings do not include any subsequent cancellations or subsequent corrections lending institutions might have made to their notifications.

Even if a residential or commercial property is advertised for foreclosure does not always imply it is in foreclosure or that the owner is in financial obligations. Some notifications arise from misconceptions. Oftentimes matters are exercised (or halted) well in advance of the auction date but after the notice has actually been submitted for publication. Even if a residential or commercial property isn’t listed here doesn’t mean it’s not in foreclosure. Again, these listings are by no implies the official notice.

The person noted as owner might not necessarily be today title holder. Mortgage value information simply shows the amount of the initial loan amount as listed in the foreclosure notice, not the balance due and not the worth of the residential or commercial property.

Neither the Daily Report nor The Atlanta Voice is accountable for any financial investment choices based on this info. Neither do they make any representations regarding title or the presence of any liens or encumbrances. Readers of these listings need to do their own research and seek advice from a genuine estate, legal or investment expert.