Home Owners Guide to Short Sales Helping You Through the Short Sale Process so you can restart your Life! We know this is a stressful time. A short sale may feel overwhelming, but you are notalone. Our job is to guide you through the process and take as much off yourshoulders as possible. Your job is to provide the documents and information weneed quickly - so we can get your short sale approved and keep foreclosure frommoving forward. Step 1: Get the Property Listed The very first and most important step in a short sale is to get your property listed onthe market. No listing = no short sale. This step is where everything starts. The Short Sale Timeline   Here’s the process in simple steps: 1.  List the property and begin marketing it immediately.2. Collect and send documents (tax returns, bank statements, etc.).3. Submit the package with an offer to the lender.4. Lender review and ordering of a property value (BPO or appraisal).5. Negotiation with the lender.6. Approval letter issued.7. Closing—you move forward and avoid foreclosure. Every delay in listing or sending documents can put the short sale at risk. Document Checklist Please gather and send these as soon as possible:         - Last 2 years of tax returns        - Last 2 months of pay stubs or proof of income        - Last 2 months of bank statements (all accounts)        - Monthly household expense worksheet        - Signed hardship letter (we’ll help you draft this)        - Authorization form so we can talk to your lender   Frequently Asked Questions Q: Why do we need to list the property first?A: The lender won’t even start reviewing your short sale until they see a real purchaseoffer. They also check how long the home has been on the market and whether youmade a fair attempt to sell it.Q: What happens if I don’t send my documents in on time?A: The lender will stop reviewing your short sale and may move forward withforeclosure.Q: Do I still need to open letters from the lender?A: Yes. Always open them and let us know what you receive—we may need torespond quickly. Do’s and Don'ts Do: * Get your property listed immediately.* Cooperate with showings and make the property accessible.* Respond quickly to requests.* Keep copies of everything you send. Don’t: ** Delay listing the home.** Overprice the property—lenders want to see fair market pricing.** Ignore phone calls or letters.** Deposit large sums of money without explaining the source.   Your Contact Sheet Agent/Guide: Scott Savage Phone: 770-374-0953 Email: scott@christopherscottrealtygroup.com Always contact us first with questions. We’ll make sure you get the right answers andkeep the process moving.Final Note The short sale only works if we all do our part. The first step is listing your propertyand showing the lender you’ve made a real attempt to sell it. Then, by providing yourdocuments quickly, we can move forward, save time, reduce stress, and avoidforeclosure.

  Introduction  When you fall behind on your mortgage, you may feel desperate and scared. That’s exactly when scammers strike. They promise quick fixes, guaranteed results, or “inside connections” with banks - but in reality, they are just looking to take your money, steal your home, or trick you into signing away your rights.   The truth is:         No one can guarantee they will stop your foreclosure.         Legitimate help never starts with pressure or upfront fees.    You always have options - but you must work with your lender or with a HUD-approved housing counselor, not strangers who contact you out of the blue.   At House Karma and through the Certified Short Sale Experts (CSSE) program, we’ve seen these scams repeatedly. The best way to fight them is with knowledge.   How Foreclosure Rescue Scams Work Scammers know homeowners in distress feel vulnerable. They often:    Target public records: Foreclosure filings are public, so scammers know exactly who is behind.       Send letters, postcards, or emails that look official (sometimes copying government logos).         Make direct calls or door-to-door visits, claiming to be from a “foreclosure relief agency.”         Offer impossible promises like stopping your foreclosure overnight or cutting your mortgage in half.         Pressure you to sign documents quickly—sometimes tricking you into signing over your deed.         Charge large upfront fees for “help” you never receive.   Check Red Flags of Foreclosure Rescue Scams Use this checklist to protect yourself. If you see any of these, stop immediately and seek real help.    Guaranteed Promises         “We guarantee we can stop your foreclosure.”         “We can reduce your payment by 50%.”   Upfront Fees          Asking for thousands of dollars before doing anything.         Demanding payment in cash, wire transfer, or gift cards.   Pressure Tactics          “You must sign today.”         “Don’t talk to your bank, we’ll handle it.”   Deed or Title Transfer Asking you to sign over your deed or title “temporarily.”  Promises that you can “rent back” your own home.   Fake Legal Help Claiming to be an attorney without providing a bar number. Giving legal advice without proper licensing.     Government Imposters Using names like “Federal Mortgage Relief Center” or fake HUD logos. Telling you they are part of a “special government program” that requires you to pay them.   Secret or “Insider” Deals  Saying they have special connections with banks or judges.  Refusing to give written details of the program.   What To Do Instead Talk directly to your lender. Don’t avoid them - communication is your strongest tool.  Ask for free help from a HUD-approved housing counselor. Check with your state attorney general’s office for licensed foreclosure assistance.  Report scams to the Federal Trade Commission (FTC) or CFPB.     Bottom Line  Scammers want you to panic.  The more desperate you feel, the easier their pitch sounds. But the reality is simple: real solutions don’t require secrecy, upfront fees, or giving away your deed. Stay alert. Ask questions. Get everything in writing. And remember - you have rights, but you must protect them.   Contact us for a free no no-obligation consultation    

What Happens If You Miss Your Mortgage Payments A Step-by-Step Timeline for Homeowners in Trouble   The Big Picture When you fall behind on your mortgage, the lender starts a process that can lead to foreclosure if you don’t act. The earlier you respond, the more options you have. Ignoring calls and letters makes things worse. Staying in contact with your lender gives you the best chance to keep your home or get out with the least damage.   0 Days – Missed Payment Your mortgage payment is due on the 1st.  Most loans give a 15-day grace period before charging a late fee. If you don’t pay by the end of the month, the account is officially delinquent. You may receive: a reminder notice or email from your lender.   30 Days Late You’ll get late notice in writing.  A late fee (often 4–6% of the payment) is added. The lender’s collections team may start calling you. Credit report: Your mortgage is now reported as 30 days late, which hurts your credit score.    60 Days Late You’ll get another notice: “Your account is seriously past due.”  The lender will call more often. You may also get letters offering loss mitigation options (ways to avoid foreclosure). Your credit report now shows 60 days late. Tip: This is the time to ask about repayment plans, forbearance, or loan modification.   90 Days Late You’re now 90 days delinquent. Expect stronger collection calls and letters. The lender may assign a single point of contact in their loss mitigation department. Your loan is usually sent to the lender’s “default servicing” team. Credit report shows 90 days late. The lender may order a “property inspection” – someone drives by, takes pictures, and checks if the home is occupied.   120 Days Late – Legal Action Starts Federal rules usually stop lenders from filing a foreclosure until you’re 120 days late. At this point, the lender’s attorney may prepare a Notice of Default (NOD) or Lis Pendens (depending on your state).   Because Georgia is a non-judicial foreclosure state, timelines can move quickly.  Please review the Georgia-specific timeline included at the end of this guide.   You may see: Certified letters in the mail Posting on your front door More visits from inspectors or real estate agents doing a BPO (Broker Price Opinion) to value the home.   The Foreclosure Timeline (After 120 Days)   Notice of Default / Lis Pendens This is the official start of foreclosure.  It’s recorded in public records.  You’ll get a copy by mail and maybe posted on your property. Notice also may be posted in local newspapers and other places (public notice being given)   Acceleration The lender can now demand the full balance due, not just the missed payments. (at this point the lender is no longer required to take just payments so “catching up” on your mortgage may no longer be an option.    Sale Date Set If no solution is reached, the home is scheduled for auction. You’ll be notified by mail, posting, and sometimes in the newspaper. Once this happens you no longer own your home and the new purchaser or possibly the lender now has title to your property. At this time, you will be required to move out. (and may be forcibly removed by eviction)   Common Notices You’ll See Late Payment Notice: “Your payment is past due. Please pay immediately to avoid fees.” Demand Letter / Breach Letter: “You are in default. Pay the amount due by [date] or we may accelerate the loan.” Notice of Default / Lis Pendens: “Foreclosure proceedings have begun.” Notice of Sale: “Your property will be sold at auction on [date].”   Your Options Along the Way Catch up on Payments – Bring your loan current Repayment Plan or Forbearance – Work out a short-term plan with your lender. Loan Modification – Change the loan terms (lower rate, extend years, add missed payments to balance). Short Sale – Sell the home for less than owed, with lender approval. Deed in Lieu – Hand the home back to the lender to avoid foreclosure Foreclosure – Last resort; you lose the home, and credit damage is severe.   Important Warning   Ignoring letters and calls is the worst thing you can do. Staying in touch keeps you in control. Once foreclosure begins, you lose options and the lender decides what happens. Don’t panic if you see inspectors or agents – it doesn’t mean you’re evicted yet, but it does mean the lender is moving forward. AVOID SCAMS! – once a foreclosure notice is filed it becomes public record and all the rats will come out trying to take advantage of you.  Unfortunately, false rescue programs, emergency loans, and firms guaranteeing to stop your foreclosure and save your home will be contacting you by phone and mail and some will even come knock on your door. Know that most if not all of them are scams to take your money or your property – legitimate businesses don’t work that way. Upfront fees, promises, guarantees and or signing over your deed are all warning signs. Do not give anyone any money up front, or sign anything without consulting a reputable real estate attorney first! (If you cannot afford an attorney, contact your local “HUD Housing Counselor” – their services are free and they can help.   Georgia Foreclosure Timeline (Important Differences)   Georgia is a non-judicial foreclosure state, meaning most foreclosures do not go through the court system.   In most cases: The lender typically sends a formal Demand Letter (also called a Breach Letter) after missed payments.         If the default is not cured, the lender advertises a Notice of Sale Under Power in the county’s official legal newspaper for four consecutive weeks prior to the foreclosure sale.         The property can be sold on the first Tuesday of the month at the courthouse         No court hearing is required before the sale         The timeline can move quickly once the foreclosure process begins   **Because Georgia does not require a lawsuit in most cases, timelines can be shorter than judicial states. Acting early is critical. **