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If you would like to stop a foreclosure auction as soon as possible in Atlanta, there are many steps that you can take to do so. You just have to consult a competent legal adviser to help you out. Here are some examples of emergency strategies that you can take to stop foreclosures right away.

Declare Bankruptcy

If the foreclosure auction is scheduled within the next few days, it would be best to file for bankruptcy in order to stop the execution of the act. The stay will immediately be applied and stop the foreclosure right away.

This is what you call an automatic stay and functions as an injunction which can prohibit the bank from foreclosing on your home and collecting on your debts with the house as collateral. In the same manner, any additional foreclosures will be stopped as soon as bankruptcy is filed.

Ways to Stop Foreclosure Immediately in Atlanta

Loan Modification

If filing for bankruptcy does not work, you can apply to modify the terms of your loan. How to stop a foreclosure auction immediately, this will prevent the bank from collecting on your property because if they are prohibited from engaging in dual tracking. Dual tracking occurs when a financial institution proceeds with a foreclosure while the application for loss mitigation is underway.

Rent Out Your Home

Renting out your Atlanta house to strangers is the best way to increase revenue to keep up with mortgage payments. Go live with a family member or friend for a while and enjoy their company. The closer you are to a tourist attraction or the CBD the more you can rent your house for. The best and easiest way to rent out a house is to use applications like Airbnb or Home Away.

Ask Your Union Representative for Help

Remember that if your part of a trade union they may be able to provide you with lawyers or even extra cash to help stop your house from foreclosure. Unions are there to aid their workers in any way they can.

Ask Your Lawyer to Stop the Process

Lawyers cannot only help you extend the time you have before your Atlanta house foreclosures, sometimes they can also help you to stop the selling your Seattle process all together. They can come up with useful ways to get around the legalities of foreclosures.

Ask Your Boss for A Raise

Tell your boss the truth and ask for a raise, there is nothing to be ashamed off. If you worked hard, presented yourself nicely and your honest about the situation you’re in, he may just give you that raise.

The Final Words

To learn more about the aforementioned proceedings and how you can stop it as soon as possible, how to stop a foreclosure auction immediately, please do not hesitate to consult a legal adviser. (Lawyer) By doing this, you will be able to find out more about foreclosures and how to stop them the legal way. It is also important to know that banks and other financial institutions are well within their rights to file counter charges against you for discontinuing the foreclosure.

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