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The listed below details is reprinted by approval. It is the special copyrighted residential or commercial property of the Fulton County Daily Report, Incisive Media © 2008. All rights scheduled.
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Foreclosure notifications might appear difficult to read and even harder to understand. In fact they contain details property owners, areas, property buyers and financiers need to understand. Each month, as Fulton County's main legal newspaper, the Daily Report releases hundreds upon numerous foreclosure notices.

How Foreclosure Works

When a person obtains money to buy property, such as a home or condominium, the loan is called a mortgage and requires month-to-month payments. In Georgia, if the residential or commercial property owner falls behind in making those payments, the lender can step in and sell your house at auction to settle the debt. Doing so is called foreclosing on a residential or commercial property.

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

Georgia law permits loan providers to perform an auction without needing to go before a judge on one condition: The lending institution should give the borrower - and the public - appropriate, legal notice of its plans to foreclose. Proper alert suggests advertising in the county's main legal newspaper. In Fulton County, that official newspaper is, obviously, the Daily Report. The loan provider should promote its intent to foreclose once a week for the four successive 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 instance, a lending institution needs to have released a foreclosure notification throughout each of the 4 weeks of February.

How to Use the Information

Residential Or Commercial Property Owners: Your Interests During the weeks leading up to the court house auction date, numerous residential or commercial property owners are able to work things out with their loan providers, seek bankruptcy defense or line up other arrangements to prevent the bank from offering off their homes. If your lending institution has started foreclosure procedures against your residential or commercial property, these listings supply you with an e alert - over and above the main notice published in complete in the Daily Report - to do something about it. Neighbors: Know What's Going On Use these listings to remain informed about your community. By law, and for essential reasons of public policy, foreclosure notices are for the public to see. They can inform you whether you have a neighbor in need. They can help respond to questions you may have about deserted or poorly preserved residential or commercial property near you. They can give you insights into residential or commercial property values in your neighborhood. Indeed, a foreclosure happening in your area can impact your own residential or commercial property worths. Homebuyers, Investors: Find a Deal Foreclosure notices offer valuable result in prospective property buyers and genuine estate investors. Houses dealing with foreclosure typically choose deal prices. These listings, organized by postal code and street address, can help you spot those potential deals. The summary info, of course, is just a beginning point - a lead for you to follow up on with your own research 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 straight with the lending institution's attorney or the residential or commercial property owner, both generally listed on this website. But be alerted: Buying a house dealing with foreclosure is not for the faint of heart. In general, you must buy the residential or commercial property as lacks opportunity for examination. You need to pay with cash or certified check. And all sales are last. To say the least, make certain you do your homework, do a total title search, consult with a professional and, above all else, reconsider. Lenders: Protect Your Interests Many residential or commercial properties go through more than one loan, such as a home equity loan or second mortgage. If the loan provider holding the very first mortgage offers the residential or commercial property off at foreclosure, the rights of the secondary lenders may well be erased. If you have actually provided someone money versus his or her residential or commercial property, or if you hold a lien, these listings offer you with an e alert - in addition to the official notice released 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 responsible for any mistakes or omissions in these listings. The info appearing on this web website is neither main nor total, but merely an abstract of the very first - run foreclosure notices appearing in the Daily Report. For the complete and official notification of foreclosure, seek advice from the printed Daily Report. Information in the official notifications comes directly from the lenders without any independent confirmation. These listings do not consist of any subsequent cancellations or subsequent corrections lending institutions might have made to their notices.

Even if a residential or commercial property is promoted for foreclosure does not necessarily mean it is in foreclosure or that the owner is in arrears. Some notices result from misunderstandings. Oftentimes matters are worked out (or halted) well in advance of the auction date however after the notice has actually been submitted for publication. Even if a residential or commercial property isn't noted here doesn't indicate it's not in foreclosure. Again, these listings are by no suggests the official notice.

The person noted as owner may not always be the present title holder. Mortgage worth details simply reflects the quantity of the original loan amount as listed in the foreclosure notification, not the balance due and not the worth of the residential or commercial property.

Neither the Daily Report nor The Atlanta Voice is responsible for any investment choices based upon this details. Neither do they make any representations regarding title or the existence of any liens or encumbrances. Readers of these listings need to do their own research and consult a real estate, legal or financial investment specialist.