Georgia Foreclosure at a Glance
The exact details can vary, but a typical Georgia foreclosure follows this general path.
Mortgage payments or another obligation under the loan falls into default.
Written notice is sent identifying the proposed foreclosure.
Notice of the proposed sale is published in the county's official newspaper.
The property is offered for sale at the county courthouse.
The winning bidder becomes the property's new owner.
Possession and possible debt issues may still need to be addressed.
Why can a lender foreclose without filing a lawsuit first?
Georgia commonly uses a nonjudicial foreclosure process.
Many Georgia security deeds include a power of sale provision. When the borrower defaults, that provision can allow the secured creditor to sell the property without first asking a judge to enter a traditional foreclosure judgment.
Nonjudicial does not mean that there are no rules. The creditor still has to comply with applicable Georgia notice, advertising, and sale requirements.
It means the lender generally does not need a traditional foreclosure lawsuit before using the power of sale. Notice, advertising, and sale rules still matter.
What starts the foreclosure process?
Foreclosure generally begins with a default under the promissory note or security deed. The most common default is failing to make required mortgage payments.
Other defaults can sometimes involve obligations such as maintaining required insurance or paying property taxes.
How much notice does a homeowner receive?
Georgia law generally requires written notice of the initiation of foreclosure proceedings to be sent to the borrower at least 30 days before the proposed sale. For a focused explanation, see our Georgia foreclosure notice guide .
The notice generally includes information for the person or entity with authority to negotiate, amend, or modify mortgage terms with the borrower.
Three Important Timing Rules
Where is the foreclosure sale held?
The foreclosure sale generally takes place at the courthouse in the county where the property is located.
Georgia foreclosure sales generally occur on the first Tuesday of the month between 10:00 a.m. and 4:00 p.m.
What happens at the foreclosure sale?
The property is offered for sale to the public. The mortgage holder may bid at the sale and is often the successful bidder.
After a completed foreclosure sale, the winning bidder becomes the new owner of the property.
At that point, the homeowner's options are very different from the options that may have existed before the sale.
Can foreclosure be stopped before the sale?
Sometimes.
The available options depend on factors such as how much time remains, the mortgage balance, the amount past due, property equity, household income, pending loss-mitigation efforts, and prior bankruptcy cases.
Possible paths before the sale
For a broader overview, see How Do I Stop a Foreclosure in Georgia?
A Chapter 13 bankruptcy filing generally creates an automatic stay that stops many collection actions, including many foreclosure proceedings.
Chapter 13 can also provide a way for some homeowners to address past-due mortgage payments over time. Read more about how Chapter 13 may affect a Georgia foreclosure and why filing timing matters .
What happens after foreclosure?
Once the sale is completed, the winning bidder becomes the new owner. Our post-foreclosure guide explains what may happen next.
If the former homeowner remains in the property, the new owner may take legal steps to obtain possession.
Separate issues can also arise concerning remaining debt, deficiency claims, junior liens, taxes, or other obligations.
Options that may exist before a foreclosure sale can be very different from the issues that must be addressed after the sale has already occurred.
Why does timing matter so much?
Georgia's process can move forward without a traditional foreclosure lawsuit being filed first.
That makes the foreclosure notice and scheduled sale date especially important.
The earlier a homeowner begins reviewing the situation, the more time there generally is to gather documents, communicate with the mortgage servicer, and evaluate possible legal or financial options.