While ?Georgia on My Mind? may be the state song, many people living in Georgia are singing to a different tune these days. On the first Tuesday of every month, the only sound heard are the crowds of investors lining up to purchase the latest in a long line of foreclosures. Unfortunately many of those hit hardest by devious mortgage brokers who persuaded homeowners into refinancing their loans into adjustable rates that the homeowners didn't fully understand happen to live in Georgia, which also just happens to be one of the toughest states to fight foreclosure. If you want to stop foreclosure, you will need to remedy the situation very quickly as the entire foreclosure process in Georgia can take as little as two months.

Although court foreclosures are permitted in the state if there is are title problems or the trust deed lacks a certain clause that allows an out of court proceeding, it is through out of court foreclosures that make up the majority of foreclosures

It is here that you must understand a very key difference between Georgia and most other states, which is that although the mortgage or deed of trust may require certain procedures, the state of Georgia does not require the lender to give any advance warning to the homeowner that the foreclosure process has begun.

Of course a homeowner can stop foreclosure by paying off their loan balance in full. But for most people, that is simply not possible. Because the whole process moves so quickly, the penalties add up very quickly. This is party due to the fact that many homeowners just don't realize how serious the situation is and how quickly they will receive a sale date on the property. Many homeowners mistakenly assume that they have time to catch up their payments. This thought couldn't be further from the truth. It is very common for people to be reading their local newspaper and seeing that their home is not only in foreclosure, but that they have a sale date the coming Tuesday. Naturally, this leaves many homeowners in shock and awe of their predicament.

So how do you stop foreclosure? There are a few options at your disposal. If you find out soon enough that you are in foreclosure, you should immediately contact your lender. Explain why you got behind and perhaps they will offer you some sort of repayment plan. Or if you just can no longer afford your mortgage payment, you may be able to avoid the foreclosure by negotiating a short sale with your lender. Of course you will have to know an interested buyer in order to pull this off. Another option to stop foreclosure is to use the equity in your home to obtain a bail out loan. Keep in mind however that these are difficult to obtain and may charge you a high interest rate. Due to your inexperience, you may have to obtain a mortgage default assistance company to resolve the situation for you. Depending on your situation, they may be able to get your lender to put all your arrears onto the back end of your loan or restructure your debt in some other way that is affordable for you. The single most important step is knowing that you have to do something and you have to do it quickly. If you are behind on your mortgage payment and live in Georgia, then time is your enemy.