No matter the family, no matter the city, foreclosure is a nightmare for any family. Life happens and the reasons a family may find itself in foreclosure are unimportant when they are about to lose their home.
Today we are going to look at the foreclosures effects in Atlanta Georgia and what local house sellers need to know. First, we will look at the effects of foreclosure and the ways of easing them.
Foreclosure Effects in Atlanta Georgia to Sellers
- Loss of your home – Pretty self-explanatory here. The devastating end result of a foreclosure in Ga is ultimately the loss of the home to the mortgage company or bank.
- Decrease in Your Credit Rating – Like all negative credit entries, this is inevitable. How much depends on how high your current credit score is… but the higher your current credit score… the more your score will drop after a foreclosure. If you have a credit score of 680 or higher… you may see a drop of 100+ points.
- Depression and Stress – Foreclosure is a very stressful situation for each member of the household. Your mental health is at stake because of the high-pressure situation. Dealing with a foreclosure is emotionally draining, exhausting and frustrating to say the least.
- House Values In Your Community – Another one of the big foreclosure effects in Atlanta Ga is that they tend to lower the overall value of the houses in your neighborhood… especially if there are multiple foreclosures in the immediate area.
How You Can Ease The Effects Of Foreclosure In Atlanta
For the well-being of you and your family, you need to mitigate the effects of foreclosure as much as you can. The process can be frustrating and time-consuming, but there are people who can help you navigate your different options in the process.
- Talk to your bank/mortgage company: Most banks do not want your home and they are usually very willing to help you keep it. If you can show that with their help you can get back on track and save your house, they will definitely assist you any way they can. If you just want out of the house but you owe more on the house than it’s worth… see if the bank has any programs to lower the mortgage burden so you can get out from underneath it without it going through an expensive foreclosure.
- Talk with a local real estate expert, like Seavest Property Solutions: We know the local Atlanta real estate market well and are very experienced in the foreclosure process here in Ga. We have helped many homeowners survive a foreclosure. Give us a call at 4044566656 and we can guide you toward the resources that can possibly help you.
- Sell your house: If you’d rather find a way to sell your house and avoid the foreclosure all together, great! We buy local Atlanta houses for cash… and would love to look at your situation and make you a fair all-cash offer on your house. Just call us at 4044566656 or shoot us your details through this website.
With the above knowledge on foreclosure effects in Atlanta – what sellers need to know, you can guard yourself by calling Seavest Property Solutions at 4044566656 and we will help you in the shortest time possible to sell your house. However, if your situation is urgent, kindly fill out our website contact form to give us more information about you. We’d love to connect with you and help you find the best solution!