Atlantafi.com is bringing you the latest on the coronavirus pandemic, which has the state of Georgia and the city of Atlanta under a state of emergency.
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If it’s time for you to re-up on your apartment lease, you may be able to stop a payment increase or even lower it. The main thing you should keep in mind is that an open line of communication can open the door to rent savings for you.This article will show you some steps you can take to negotiate your rent.4 Ways You Can Negotiate Your Rent Price
I don’t have to tell you how rent prices continue to affect the economic landscape in metropolitan cities like Atlanta and other areas. Rent prices typically always go up and never come down, so any relief you can bake into your lease is something you should pursue.Let’s go over some ways you can work out an arrangement to lower your rent.Can I Negotiate My Rent?
I know what you’re thinking: Are rent prices negotiable? Everything, including rent prices, is negotiable. The way to get what you want is to have something of value that your landlord wants or needs in return.The truth is that few things are given to us in the world, and that includes opportunities to save money. You have to make the effort to save money to be help your finances.1. Offer Your Services
Are you a chef? Do you own a side business? Whatever you do, see if you can offer your services to your landlord in exchange for cheaper rent.Here are some things you may be able to do for your landlord:- Paint the interior or exterior of your place.
- Do some on-the-side plumbing work.
- Lawn care or other maintenance services.
2. Offer To Sign A Longer Lease
Another way you can negotiate a cheaper rent rate is to agree to sign a longer lease.For example, if you would normally sign a lease for one year, offer to sign for 18 months. The landlord will see the extra money he or she can make.3. Agree To Pay A Lumpsum
Most landlords will take a deal that includes them getting a lumpsum payment. Of course, you’ll want to reduce the overall payment in exchange for a lump sum.For example, if your rent is $1,000 a month, then instead of incrementally paying $12,000 for the year, you could offer to pay $10,000 in cash. The landlord may not be able to pass up an opportunity to make that kind of money instantly. Also they may reason that the cash can help them pay for some other expense that needs immediate attention.4. Write A Letter To Your Landlord
Why not just ask your landlord to lower the rent? This should be done in writing so that there’s a documented record of the request.
You can simply make a petition based on your current or projected income and other specific circumstances. Make sure you tell them how much you love your apartment and what you like best about the property.
Also, tell them specifically how much you’d like taken off your rent so that there’s no confusion.. If you’re nice about, the landlord just may consider, especially if they value you as a tenant.
5. Offer To Live In Another Unit
Another way you can knock off some of your rent money is to negotiate moving into another unit that is less expensive. You could also tell the landlord that you will do minor fixes to the place.
For example, if you’re in a three-bedroom unit, you might consider downsizing to a two-bedroom or one-bedroom if your circumstances allow.
Final Word
Getting a rent reduction can really make a difference in your overall budget. Don’t hesitate to write out all the things you do to improve and beautify your living space. Show it to the landlord so they know the efforts you take to make your apartment livable.
After you negotiate your rent, it’s time to move into your new place.
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If you’re interested in buying property, you should know all you can about a short sale, which is a very valuable transaction in real estate.
In this article, we’re going to tell you what you need to know about a short sale in real estate.
What Is A Short Sale?
A short sale is one in which a motivated seller, typically someone in financial trouble, sells their home for less than what it’s worth.
Because of the complexities involved, a short sale will typically involve a lender who approves the transaction. Another difference from a traditional real estate transaction is that in a short sale, the seller doesn’t pay for closing costs. Those fees are split between the lender and buyer.
As you can imagine, a short sale is a good deal for the buyer, but can be a terrible thing for the seller, at least in one sense.
Is A Short Sale Good Or Bad?
A short sale is good for the buyer because they get to buy a home for far cheaper than it normally would be listed for.
On the other hand, for the seller, a short sale may get them out of a mortgage, but their credit will take a major hit in the process.
The seller will typically look to do a short sale of a home as a way to avoid a foreclosure, which would hurt their credit even more.Is It A Good Idea To Buy A Short Sale House?
You may be weighing whether buying a short sale house is a good idea. While the price will likely be reduced, you should know that there may be some issues with the home that require quite a lot of time or money.For that reason, short sales are usually purchased by seasoned real estate investors, who have the time and money to invest. Let’s talk about what’s required.The Time
The time you be spent not only repairing the home and getting it into shape for someone to live there, but securing the necessary paperwork and permits from the appropriate government agencies.The Money
You can bet that it’s going to also cost you a pretty penny to turn the home into something that attracts a buyer. Let’s just not hope that there’s no foundation or roof problems, which will be quite expensive.Where Can I Find Short Sales In Georgia?
You can get a list of short sales in your area by reaching out to your local Realtor, who would be familiar with the process as well.
You can also find short sales on the following real estate websites:
- Berkshire Hathaway Georgia
- ColdwellBankerHomes.com
- ForeclosureListings.com
- Foreclosure.com
- ShortSaleAtlanta.com
- UrbanNest
Final Word
Real estate prices are on the rise around the state, but you can find a good deal if you’re patient.
Contrary to its name, a short sale may take several months before it is finally approved. You can use that time to secure a contractor to do some of the jobs that need to be completed once the home becomes yours.
You may need a plumber, electrician and carpenter for starters.
Are you trying to become more financially literate? Check out Money Mondays at AtlantaFi.com, where we’ll share strategies to save and make cash.
If saving money is something you’re serious about, AtlantaFi.com has a lot of resources to help you.Read more: -
Atlanta has been a major market for home listings site Zillow’s home buying program, which is called Offers. Now the Offers are off the table.Zillow said on Tuesday that it’s exiting Offers, its business that buys and flips homes, and eliminating 25% of its workforce.
Zillow Offers Shuts Down
Zillow revealed the news in its third-quarter earnings report. , which detailed how the company missed its earnings mark to the chagrin of analysts.
The company said that it would cost too much money to keep the program afloat.
“We’ve determined the unpredictability in forecasting home prices far exceeds what we anticipated,” Zillow CEO Rich Barton said in the release. “Continuing to scale Zillow Offers would result in too much earnings and balance-sheet volatility.”
Zillow’s home buying prowess has been getting significant backlash after a viral TikTok explained how the company was buying up properties in the inner city and created an artificially inflated market by suppressing prices in some areas and causing them to rise in other areas of the market.
Here are some affordable homes for sale in Atlanta.
Atlanta is enjoying one of the best real estate markets in America, with affordable housing in every quadrant of the city. Large backyards, manicured parcels and strong neighborhoods with ample dining amenities make it one of the top places for transplants.
Not to mention that the city’s dining scene is the best in the Southeast. Looking for a home? Check out our Real Estate Resource Page.
Keep up with what’s going on in Atlanta’s real estate scene here with our Apartment Guide.
More Articles From AtlantaFi:
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If you’re looking to sell your home, Zillow may make it a whole lot easier, but it depends on who you ask.
A viral TikTok alleges that the real estate company is buying up homes and raising prices, making homeownership unaffordable to untold numbers of people. Zillow has denied the claims and calls it “misinformation.”
For a while now, Zillow has been making initial cash offers on eligible homes in more than 20 cities, including Atlanta, Georgia.
The move is part of the company’s Zestimate, which has been changed due to new demands in the real estate industry. In this article, we’ll look at what Zillow’s Zestimate is all about as well as how you can sell your home.
What Is Zillow’s Zestimate?
Since 2006, Zillow has offered the Zestimate, which was a valuation tool to see how much your home was worth.
The Zestimate is now the company’s home-buying service through which customers can sell their home directly to Zillow.
The way it works is that qualifying homeowners can get the certainty of a cash offer by way of their Zestimate. The company aims to facilitate the buying and selling of homes totally online.
That means the era of having random strangers show up at your home may be a thing of the past.
How You Can Get Paid From Your Zestimate
Zillow is now pairing the Zestimate with Zillow Offers so that you can get cash in your hands more quickly.
The way this can work out for a seller is that they can find out what Zillow is willing to offer for their home before it even goes to market. This not only speeds up the process, but avoids long wait times for your property, which could cause it to look stale on the market after a while.
With a Zestimate, the home seller gets an initial cash offer if their property s deemed an “eligible home” in one of about 20 U.S. cities.
Final Thoughts
You may be wondering what it takes to buy a home in Atlanta, as the forecast for this year predicted, prices in certain areas are increasing. But that doesn’t mean you can’t find a nice home in metro Atlanta.
The first step in the process is to get pre-qualified for a mortgage.
If you’re already pre-approved for a home loan, it signals to the loan officer, real estate agent and seller that you’re ready to purchase — and not playing around.
Atlanta has one of the best real estate markets in the country, with affordable housing in every quadrant of the city. Large backyards, manicured parcels and strong neighborhoods with ample dining amenities make it one of the top places for transplants.
There’s also ample opportunities to rent your home for cash. Keep up with what’s going on in Atlanta’s real estate scene on our Real Estate page.
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If you need help with your rent in Fulton County, a local government program that has been extended may be able to help. The program is similar to one for Atlanta residents, but there are some key differences.
If you live in Fulton County and are struggling with rent, you may qualify for assistance. This article is going to show you how to apply for rental assistance if you quality.
How To Apply For Rent Assistance In Fulton County
For those in need, Fulton’s government has responded with help. If you’re wondering who can receive it, the program is for qualifying Fulton residents who live outside Atlanta.
The Fulton assistance program gives temporary rental and utility assistance.
The application process has been opened for Fulton’s COVID-19 Emergency Rental Assistance Program. The aim of the $18 million program is to aid eligible households in need of rental and utility assistance.
You’ll need to provide some personal information like your name, address as well as proof of income, if any.
Like other programs, you must meet the eligibility requirements to be approved. Here are the requirements.
- Income must be less than 80% of the Area Median Income (AMI).
- At least one household member must qualify for unemployment benefits and can show in writing that they have experienced a downturn in income, incurred “significant costs” or had financial hardships due to COVID-19.
- At least one household member can demonstrate a risk of homelessness or housing instability. This may include a past due utility bill or eviction notice. It could include evidence of unsafe or unhealthy living conditions.
How To Apply For Rental Assistance In Fulton
To apply for rental assistance in Fulton, sign into the Emergency Rental Assistance Portal.
Once you have registered on the website, follow the steps to input your information.
Last Words
Atlanta’s rental landscape is increasing as more developments are being built, but the city has a serious affordability program. That means an increasing number of people are facing eviction notices and other rental issues.
Atlanta has one of the best real estate markets in the country, with affordable housing in every quadrant of the city. Large backyards, manicured parcels and strong neighborhoods with ample dining amenities make it one of the top places for transplants.
If you’re interested in finding a place to rent in Atlanta, here are some steps to follow.
More Articles From AtlantaFi.com:
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Atlanta, Georgia, is one of the top cities for rental homes, according to a recent Zillow study.
The findings indicate that although property values are causing a rise in taxes, homeowners are increasingly renting their homes for more than their monthly mortgage payments to make ends meet.
Study: More Atlanta Property Owners Renting Out Homes
The study also shows that Atlanta continues to be a top draw for renters looking for a large metropolitan cities with modern amenities and plentiful jobs.
Despite the “We Full” moniker, Atlanta consistently pulls in migrants from across the country due to its relative affordability. That offers property owners an opportunity to make some money on their residences.
Here are the top metro areas where property owners are renting out their homes.
Top U.S. Cities For Renting Out Properties
Metro Area
Size
RankTypical
RentTypical Monthly Mortgage
Payment3$ Difference Between Rent and
Mortgage2Memphis
41
$1,504
$948
$556
Miami
8
$2,249
$1,727
$522
Atlanta
9
$1,787
$1,363
$424
Birmingham
49
$1,271
$868
$403
Tampa
19
$1,819
$1,435
$384
Indianapolis
33
$1,375
$1,044
$331
Orlando
27
$1,758
$1,444
$314
Charlotte
24
$1,628
$1,339
$290
Oklahoma
City42
$1,210
$931
$279
Detroit
12
$1,387
$1,119
$268
Last Thoughts
A Pew Research Center study says,70% of rental properties in the United States are owned by individuals rather than companies. That means that Americans see the value in turning their residences into wealth generators.
But property owners have been careful not to overdo it. These individuals typically own one or two properties, according to the study.
Are you interested in making money off where you live? Here’s how to rent out your home for profit.
Atlanta has one of the best real estate markets in the country, with affordable housing in every quadrant of the city. Large backyards, manicured parcels and strong neighborhoods with ample dining amenities make it one of the top places for transplants.
Not to mention that the city’s dining scene is the best in the Southeast. Looking for a home? Check out our Real Estate Resource Page.
Keep up with what’s going on in Atlanta’s real estate scene here with our Apartment Guide.
See The Latest Atlanta Real Estate News At AtlantaFi.com.
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Single women have made some serious strides toward homeownership in the last 15 years, according to a recent report from Zillow.
The real estate platform says the share of female renters who can afford a home has increased in 37 of the top 50 metros that Zillow analyzed, including Atlanta.
Women See Increased Buying Power In Atlanta, Says Report
The metro areas with the highest single female buying power rates are:
- Cleveland (29.5%)
- Cincinnati (26.9%)
- Atlanta (25.1%)
As great as the progress for women has been, none of the metropolitan areas analyzed by Zillow show them having more purchasing power than men.
For the most part, the challenges of getting equitable pay, affordable child care and other benefits, continue to play a role in gender disparities, according to Zillow.
Here are some key findings about Atlanta:
- 25.1% of single women renters can afford a home in Atlanta. That’s 7.9% their male counterparts.
- Single female buying power increased 4.5% since 2005.
- The gap between single men and women buying power has increased 4.5% over the past 15 years.
Zillow also estimates that nearly 2 million renter households could afford homeownership if given the flexibility to work from home and move into starter homes in cheaper locales.
Are You Saving For A Home?
Although homeownership is on the rise among women in Atlanta, many still aren’t in a position to afford it.
As many businesswomen that the city produces, it seems just as many of them aren’t able to get ahead.
Because you’ll need to save money incrementally, it’s good to put together a plan to set cash aside each month. How much should you save? It depends.
Looking for a new house? Here’s how to save for a home.
Final Words
Homeownership is one of the best purchases an American can make. In Atlanta, women are making strides in that regard.
Keep up with what’s going on in Atlanta’s real estate scene here with our Apartment Guide.
More Articles From AtlantaFi:
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A new report lists Druid Hills as one of the nation’s best suburbs based on several economic factors including household income, house prices and more.
Now, while it’s certainly a nice enclave that people want to live in, Druid Hills is not really a suburb, but we’ll take it.
Home lending site RenoFi analyzed more than 600 suburban areas in the United States to arrive at its list. The criteria used in the study are:derived from eight livability factors that would make the destination more livable.
In addition to home prices, some of the factors included:
- Crime rate
- Unemployment ratio
- Property taxes
- Clinician to patient ratio
Let’s look at the numbers:
Here Are The Most Livable Cities In The USA
Rank
Suburb
City
Population
Median household income
Median household income growth
Median house price
Median house price growth
Overall livability score /10
1
Druid Hills
Atlanta
8,365
$123,405
31.10%
$573,400
15.60%
7.6
2
Falls Church
Washington, D.C.
14,128
$124,796
8.71%
$757,300
2.06%
7.57
3
Pimmit Hills
Washington, D.C.
6,223
$131,118
14.80%
$612,900
16.60%
7.52
4
Melrose
Boston
28,113
$103,743
11.00%
$508,700
9.80%
7.41
4
Pleasant Ridge
Detroit
2,431
$116,583
14.00%
$332,900
12.50%
7.41
Another metro Atlanta location makes an appearance in the statistics when it comes to real estate property values. East Point, Georgia is listed 9th when it comes to suburbs with the greatest annual home prices growth.
East Point, which is about four miles from downtown Atlanta, has some great things to do there.
You can view the full study here.
When it comes to a livable area, Atlanta’s neighborhoods have quite a few amenities to chose from. If you like food halls, there’s quite a few as well as the walking space provided by the Beltline.
Atlanta has one of the best real estate markets in the country, with affordable housing in every quadrant of the city. Large backyards, manicured parcels and strong neighborhoods with ample dining amenities make it one of the top places for transplants.
Not to mention that the city’s dining scene is the best in the Southeast. Looking for a home? Check out our Real Estate Resource Page.
Keep up with what’s going on in Atlanta’s real estate scene here with our Apartment Guide.
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There’s more to the Atlanta area than what’s inside the perimeter. If you’re looking for a place to live in Georgia, you might want to consider somewhere in metro Atlanta.
The metro Atlanta area consists mainly of five counties that make up the bulk of where nearly 6 million people live.
If you’re thinking about moving to Georgia and looking for an affordable apartment, this article is a resource. But what are some of the best places?
Apartment Therapy recently listed some of the top spots to reside in the Atlanta area.
1. Sandy Springs
Population: 108,797
Median home listing price: $491,008
Median monthly rent: $2,0882. Roswell
Population: 94,650
Median home listing price: $411,516
Median monthly rent: $1,9953. Johns Creek
Population: 84,310
Median home listing price: $430,525
Median monthly rent: $2,0004. Alpharetta
Population: 66,255
Median home listing price: $410,134
Median monthly rent: $1,8955. Marietta
Population: 60,806
Median home listing price: $301,631
Median monthly rent: $1,6476. Dunwoody
Population: 49,459
Median home listing price: $460,077
Median monthly rent: $2,2007. Milton
Population: 39,217
Median home listing price: $558,765
Median monthly rent: $2,0958. Peachtree City
Population: 35,766
Median home listing price: $346,716
Median monthly rent: $1,9009. Kennesaw
Population: 34,172
Median home listing price: $254,303
Median monthly rent: $1,58510. Woodstock
Population: 32,234
Median home listing price: $276,799
Median monthly rent: $1,600Atlanta has so much to do that you need a curated guide to help you sort through it all. Make sure you subscribe to our #ATLHaps newsletter that gives you a weekly tab of Atlanta events you don’t want to miss.
Where Do Black Professionals Hang Out In Atlanta?
Atlanta has been called the black mecca due to its large African-American population. If you’re wondering where many black people in Atlanta hang out, here are some of the nightlife establishments they frequent.
Revel
1778 Ellsworth Industrial Blvd NW, Atlanta, GA 30318, (404) 355-6800
Revel is one of Atlanta’s hottest clubs, catering to the young millennials looking for a respite from the professional world on the weekends. Every Friday and Saturday, it’s ladies free til 12 am with open bar til midnight as well. Come and see Big Tigger x V103 Dj Pnut on the ones and twos.
One Google reviewer says: “This is a world-class first-class venue with an excellent light show and definitely an upscale feel I love the fact that you can run into any and everybody from celebrities athletes to your neighbor.”
Here’s what it’s like inside Club Revel in Atlanta.
Truth Lounge
1100 Crescent Ave NE, Atlanta, GA 30309, (404) 262-7112
Photo credit: Youtube Truth Lounge is another club on the well-known party strip Crescent Avenue in Midtown. Known for “Krave Saturdays,” Truth Lounge is also a great happy hour option afterwork.
One Google reviewer says: “Cool spot. Really loud music, maybe too loud. Cool place to bring your friends to dance & smoke a few hookahs(if you’re into that kinda stuff). It can also be a bit crowded.”
Whiskey Blue located in the W Hotel in Buckhead is a cool, hip place for young professionals to gather for an afterwork drink. The rooftop lounge allows you to enjoy a cocktail looking out on the Buckhead skyline.One Google reviewer says: “The staff is always nice. Really good drinks. Beautiful views. It’s a very small lounge so it gets crowded fast. They recently redesigned the interior. This is a great place to visit for a weekend cocktail or beer after work.”The Gold Room is a favorite spot for visitors looking to experience some authentic Atlanta nightlife. The place can be a bit smokey at times, but the music is on point.One Google reviewer says: “he DJ was freaking awesome! I wouldn’t go again without a section. You could barely even make way to the bar. Hookah was great. That “body to body” stuff is not the wave anymore. Other than that, two thumbs up!”Club LaCura ATL
1919 Metropolitan Pkwy SW A, Atlanta, GA 30315, (404) 749-7898
Club LaCura is a vibrant “neighborhood” club catering to Zone 3 on Metropolitan Parkway. The club that brings a lot of med-level rappers and entertainers to rock the crowd. If you’re a fan of underground rappers, LaCura often books those types of artists.
One Google reviewer says: “I am from Jacksonville FL was visiting for my Birthday July 7. This place was the Best they showed so much love to a sister in there. I will definitely recommend anyone to celebrate their whatever in Lacura. Thank you to the Beautifull bar tenders, The DJ you sir who had on the black pants and black n white shirt you yeah you with the dreads omg I can’t stop thinking of you and More importantly thank you Mr. Peewee… Love from DUVALLL Baby.”Mansion Elan
3595 Clairmont Rd, Atlanta, GA 30319, (404) 997-6901
Photo credit: Youtube Mansion Elan is a relatively new addition to Atlanta’s nightlife, but you should definitely add it to your things to do in Atlanta list. Although they advertise a “free with text” option, it may make you wait in line, but that’s OK. Once inside, you’ll enjoy the vibe.One Google reviewer says: “Music Great !!!!! A mix of sounds Grade equipment you can breathe not a smoke-filled environment….. yeah. The renovations are spectacularly beautiful to any clubs from Vegas to Miami recommend this spots.”Interested in more places to party in Atlanta? Check out these Atlanta clubs.Explore Atlanta At Your Own Pace
First, to find all the good things happening in the city this week, all you have to do is take a look at downtown Atlanta. That’s where some of the best restaurants are as well as where the visitors, namely tourists, are. Downtown Atlanta or Midtown often has something cool going on!
Are you a beer drinker? You also may want to visit to a craft brewery in the city.
Check out these events in Atlanta today and this week and this weekend:
- For a month’s view: The Official Atlanta Events Calendar
- For a more immediate look, check Things to do in Atlanta This Week
Here are more articles from AtlantaFi.com:
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If you’re facing the foreclosure of your home, it can be an anxious time. In Georgia, you have good reason to be. Atlanta also has the fourth-highest share of mortgage delinquencies.
This article will show you what you need to do to stop a foreclosure in your home in Georgia.
What Is The Foreclosure Process?
The foreclosure process begins when the bank sends you notification that your home will be repossessed in a matter of days.
The actual foreclosure typically occurs on the steps of City Hall and is administered by the sheriff of the presiding county of where the property is located.
For example, to witness or take part in a foreclosure auction in Fulton County, you’d need to be on the Fulton County Courthouse steps as the sheriff’s deputy begins the process by listing properties.
By federal law, foreclosure auctions must be advertised in a newspaper of record. That’s why it’s important to check newspaper listings, especially papers that specialize in real estate listings.
In addition to newspapers, foreclosure listings can also be found:
- Legal publications
- Courthouse steps
Now that you know what to expect at a foreclosure auction, let’s talk about how to avoid it.
How Can I Stop My Home From Foreclosure?
Here are some ways you can stop your home from being foreclosed on.
1. Reach Out To Your Lender
The #1 way to avoid foreclosure is to contact your lender and see if you can renegotiate your mortgage. This may involve setting up a payment plan to catch up or agreeing to make a balloon payment.
The lender may have tried to get you to work something out earlier, but now that you’re more motivated, they may be willing to listen to what you have in mind.
2. Apply For Deferred Payments
A payment deferral moves your past-due payments to the end of your loan and brings your account current. To qualify for the deferred payment option, you typically have to:
- Contact your mortgage lender and inquire about deferred payments.
- Show them that you are able to resume regular payments after the deferred payments process.
3. Apply For Forbearance
Sometimes, the lender doesn’t want to grant you deferred payments due to your history. That’s when it’s time to ask about a forbearance plan.
Many homeowners don’t like forbearance plans because they may typically end with you owing a balloon payment at the end of the process — but it doesn’t have to end that way.
If you are able to apply and be accepted into a forbearance plan, make sure to tell the lender that you still don’t have the money to make the back payments.
The lender’s options at this point usually are to grant you a deferred payment plan or let you refinance at a more favorable rate. Let’s talk about that.
4. Refinance Your Mortgage
Because lenders ideally don’t want to get stuck with stale properties due to foreclosures, they’d rather you continue to make your mortgage payments.
One to ensure that you continue to pay is if you refinance your mortgage. This is a preferable option for lenders who know that homeowners in financial trouble.
5. Loan Modification
Similar to a refinance, a loan modification typically lowers your payments so that you can afford to begin paying your mortgage again.
Even before you miss a payment, a lender usually will be willing to set you up with a loan modification because they know that you’re still interested in paying for your mortgage.
Lenders don’t mind making loan modifications if they see that you’re sincere about repayment. In many cases, the loan modification amount will include a small fee each month to help the lender recoup what was lost during the months you didn’t pay.
6. Sell Your Home
The last resort in many foreclosure cases is for the distressed homeowner to sell their property. While this is not an ideal situation — namely because it may hurt your credit a bit — it is a viable way to get out of a mortgage you’ve fallen behind on.
If selling your home before it goes into foreclosure is your only option, make sure to try to get rid of it before it officially goes into the foreclosure process. Once a home enters the foreclosure process, the bank is presumed the owner — not you.
That means you lose all the bargaining power you previously had and you may not see a dime of the money from the sale.
Final Words
Foreclosing on a home can be a demoralizing ordeal and is not for the faint of heart, but these things do happen.
Always try to work with your mortgage lender before you get in arrears so that losing your home is never an option on the table.
To recap, here are the steps you can take to avoid having your home foreclosed on.
Atlanta has one of the best real estate markets in the country, with affordable housing in every quadrant of the city. Large backyards, manicured parcels and strong neighborhoods with ample dining amenities make it one of the top places for transplants.
Keep up with what’s going on in Atlanta’s real estate scene here with our Apartment Guide.More Articles From AtlantaFi: