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Georgia Foreclosure and Loan Modification Information
Georgia Foreclosure Process
Maximum delinquency period: 150 days
Time limit from foreclosure start to completion: 80 days
Total maximum time from last payment to foreclosure completion: 230 days
Foreclosure Type: Non-Judicial
Initial Step: Publication
Redemption: None
Deficiency Judgment: Allowed
Security Instrument: Security Deed
Loan Modification and Foreclosure
Foreclosure starts
Q1 2007Q2 2007Q3 2007Q4 2007Q1 2008Q2 2008Jul/Aug
11,69311,67015,11416,43616,70517,57412,150
Foreclosure sales
Q1 2007Q2 2007Q3 2007Q4 2007Q1 2008Q2 2008Jul/Aug
4,6624,7545,6826,8017,7867,6916,534
Loan Modifications completed
Q1 2007Q2 2007Q3 2007Q4 2007Q1 2008Q2 2008Jul/Aug
1,5072,0362,4264,5245,6137,8756,999
Current number of loans
Q1 2007Q2 2007Q3 2007Q4 2007Q1 2008Q2 2008Jul/Aug
1,349,9641,396,2851,412,2811,452,4861,433,4041,452,5211,477,288

Please note that this data represents data reported to HopeNow by approximatly 26 different lenders. Since the number of lenders reporting data has increased over time, the numbers have been adjusted to be comparable between quarters.
Loan Modification Facts
  • Mortgage servicers provided loan workouts for approximately 189,000 borrowers in August 2008.

  • In August, approximately 110,000 homeowners received repayment plans; approximately 79,000 received loan modifications.

  • Nearly 53 percent of homeowners with subprime loans who received workouts through mortgage servicers received modifications.
Above statistics as reported by CNBC and HOPE NOW on October 2, 2008.

Regional Information **
The current loan modification rules as well as foreclosure and loan modification statistics vary greatly from state to state. Select your state below to get a better understanding of your current local situation.
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
 Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
North Carolina
North Dakota

 Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington D.C.
West Virginia
Wisconsin
Wyoming


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