Atlanta, GA- Buying a home in pre-foreclosure as opposed to

buying a home already in foreclosure can make a huge

difference to Atlanta homeowners in the outcome of the

situation. Georgia, being a predominately non-judicial

foreclosure state limits the amount of days a homeowner has

to find help when in foreclosure. (The state laws in Georgia

allow for both judicial and non-judicial proceedings in a

foreclosure, but non-judicial is more commonly used). Buying a

home in pre-foreclosure can put everyone involved in a

better position, rather than buying when the foreclosure

proceedings are far set in motion.

Buying a house early, in pre-foreclosure can save a person

from having foreclosure on his/her credit report, and can

save them from high emotional stress. The financial burden

of possibly losing a home to foreclosure is extremely

overwhelming. The financial distress in itself is a load too

heavy. On the other hand, when a solution is precipitated

with a person in pre-foreclosure, there is substantially

less emotional strain.

According to an online listing service Foreclosure.com,

Atlantas number in foreclosures is currently at 1, 065 and

the number of pre-foreclosures is 8. In relation to

Atlantas population of 8,829,383, the number of

foreclosures may not seem excessive; however the

relationship to look at here is the number of foreclosures

to the number of pre-foreclosures. The minute number of

pre-foreclosures is of course a good thing, however the

number of foreclosures shows that many, thousands of people,

are not being helped early on in the default process! By no

means is it too late for these people already in foreclosure

to get financial help. However in a non-judicial foreclosure

situation, it is better that action is taken quickly to

avoid a foreclosure sale, which virtually does no good for

the homeowner, lender, or investor trying to help the

situation.

Non-judicial states have a short timeline of events that

take place between the day the lender, or beneficiary,

begins the power of sale to the day the foreclosure sale is

held. In Georgia, if the initial loan documents were done

under non-judicial state law, it is such that when a

homeowner buys a house he/she signs the deed of trust giving

the trustee the right to sell the house in foreclosure

without entering the judicial, or court system. In some

cases the lender may not ever make the defaulter aware of

the upcoming foreclosure sale. For a homeowner, this can all

be very scary if there is no one to help find a solution.

Buying homes in pre-foreclosure is about timing and reaching

the homeowners early on to help them. Many of these

homeowners dont know who to turn to, they are mostly scared

and/or worried. Wouldnt anyone be fretful in the same

situation?

Approaching a person in pre-foreclosure is not always easy

while it can be humiliating for the homeowner, but chances

are the homeowner is more concerned about keeping a roof

over the familys heads. Offering to buy the home in

foreclosure is just one option available to the distressed

owner. Establishing report with homeowners is important.

They want to be told how we can help with sincerity and

veracity, which will show them that investors are there to

help out. Most of the time people in distress simply need

help, someone to turn to who can give them options.

When a homeowner is unable to pay one or two mortgage

payments, it is almost prescient that a foreclosure ahead.

As investors we have to think about the reality these people

are facing and present them options in a hopeful manner, to

help them move forward in their lives.