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

Foreclosure notices might appear tough to check out and even harder to comprehend. In reality they include details house owners, communities, property buyers and financiers require to understand. Each month, as Fulton County's official legal paper, the Daily Report publishes hundreds upon numerous foreclosure notifications.

How Foreclosure Works

When an individual borrows cash to purchase realty, such as a home or condo, the loan is called a mortgage and requires monthly payments. In Georgia, if the residential or commercial property owner falls behind in making those payments, the lending institution can action in and sell the home at auction to settle the financial obligation. Doing so is called foreclosing on a residential or commercial property.

These auctions take place the very first Tuesday of monthly (or the very first Wednesday if the first Tuesday falls on a vacation) between 10 a.m. and 4 p.m. on the steps of the county courthouse. For residential or commercial property located in Fulton County, the auctions happen 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 having to go before a judge on one condition: The loan provider needs to give the debtor - and the public - appropriate, legal notice of its plans to foreclose. Proper notification indicates marketing in the county's main legal paper. In Fulton County, that main newspaper is, of course, the Daily Report. The lender should market its intent to foreclose once a week for the 4 consecutive weeks leading up to the "very first Tuesday" sale date. To auction off a residential or commercial property the very first Tuesday of March, for example, a loan provider should have released a foreclosure notice during each of the four 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 are able to work things out with their lenders, look for personal bankruptcy security or line up other plans to prevent the bank from selling their homes. If your lender has actually begun foreclosure procedures versus your residential or commercial property, these listings provide you with an e alert - over and above the main notice published completely in the Daily Report - to take action.
Neighbors: Know What's Going On
Use these listings to remain informed about your community. By law, and for important reasons of public policy, foreclosure notices are for the public to see. They can inform you whether you have a neighbor in requirement. They can help address questions you might have about abandoned or inadequately maintained residential or commercial property near you. They can give you insights into residential or commercial property worths in your community. Indeed, a foreclosure taking place in your community can impact your own residential or commercial property worths.
Homebuyers, Investors: Find a Bargain
Foreclosure notifications provide valuable result in prospective property buyers and investor. Houses facing foreclosure often choose bargain prices. These listings, organized by zip code and street address, can help you identify those possible deals. The summary information, naturally, is simply a beginning point - a lead for you to follow up on with your own research study and initiative. In addition to bidding for a home on the courthouse steps, there are ways to purchase 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 usually noted on this website. But be alerted: Buying a house dealing with foreclosure is not for the faint of heart. In basic, you should buy the residential or commercial property as lacks chance for assessment. You have to pay with money or certified check. And all sales are final. To state the least, make sure you do your research, do a complete title search, seek advice from an expert and, above all else, reconsider.
Lenders: Protect Your Interests
Many residential or commercial properties undergo more than one loan, such as a home equity loan or second mortgage. If the loan provider holding the first mortgage sells the residential or commercial property off at foreclosure, the rights of the secondary lenders might well be eliminated. If you have provided someone cash versus his/her residential or commercial property, or if you hold a lien, these listings offer you with an e alert - in addition to the official notification released completely in the Daily Report - so that you can take action to secure 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 website is neither official nor complete, however merely an abstract of the first - run foreclosure notifications appearing in the Daily Report. For the complete and main notification of foreclosure, seek advice from the printed Daily Report. Information in the main notifications comes directly from the lending institutions without any independent verification. These listings do not include any subsequent cancellations or subsequent corrections loan providers may have made to their notifications.

Just due to the fact that a residential or commercial property is promoted for foreclosure does not necessarily indicate it remains in foreclosure or that the owner is in arrears. Some notices arise from misconceptions. Oftentimes matters are worked out (or halted) well in advance of the auction date but after the notification has actually been sent for publication. Even if a residential or commercial property isn't listed here does not indicate it's not in foreclosure. Again, these listings are by no suggests the main notification.

The person listed as owner may not necessarily be the present victor. Mortgage worth info merely reflects the quantity of the original loan quantity as noted in the foreclosure notice, not the balance due and not the value of the residential or commercial property.

Neither the Daily Report nor The Atlanta Voice is accountable for any financial investment choices based upon this info. Neither do they make any representations relating to title or the existence of any liens or encumbrances. Readers of these listings must do their own research study and consult a realty, legal or investment expert.