Facing foreclosure is a stressful and emotional experience, but if you’re in Augusta, Georgia, and worried about losing your home, you’re not alone—and you still have options. One of the most effective ways to protect your credit and possibly walk away with some equity is to sell your home before the foreclosure process is complete. Timing and strategy are critical, so here’s what you need to know to make a smart move.

Understand the Foreclosure Timeline in Georgia

Georgia is a non-judicial foreclosure state, which means lenders can foreclose without going to court. This process can move fast—sometimes within 30 to 60 days after a Notice of Default is issued. The Notice of Default usually is usually sent to homeowners in foreclosure once they are 6 – 7 months behind on their mortgage. That’s why it’s crucial to act quickly once you start falling behind on mortgage payments. Communication is key. Contact your lender immediately to understand where you stand, and check if there’s any way to delay the process while you explore selling options. Once your home goes into foreclosure, your mortgage lender will not talk to you. They will force you talk with the foreclosing attorney, or the mortgage lender’s attorney. They will not be able to help you make a payment plan or loan modification, so it’s important to communicate early with your mortgage lender when you fall behind on your mortgage payments. Here is more information about What is a Foreclosure and How Does it Work?

Sell Your House with A Realtor

If you are early enough in the foreclosure process, you can try to sell your hose with a realtor.  Before listing your house, you need to know its true market value. This is especially important if you’re trying to sell fast. Work with a local real estate agent who understands the Augusta market, or get a comparative market analysis (CMA). Knowing how much your home is worth can help you price it competitively and attract serious buyers quickly. If your home needs repairs, factor those into the pricing strategy. You probably don’t have the cash or time to take care of any deferred maintenance or repairs yourself, so that will need to be reflected in the price. Keep in mind, a realtor is also going to take 6% of the sale for commissions.

Consider a Short Sale If You Owe More Than It’s Worth

If your mortgage balance is higher than your home’s value, a short sale might be your best option. This means the lender agrees to accept less than what is owed on the loan. It requires lender approval, which can take time, but it’s often a better alternative to foreclosure. Be sure to work with an agent experienced in short sales, as the paperwork and negotiation process can be complex.

The downside to Short Sales, is they take a really long time to get approval from your mortgage lender. If you are early in the foreclosure process, then you may have time to get that approval. Likely you will have to list your house as a short sale and get an offer with a contingency for bank approval. This can take months. If you are already 6 months behind on your mortgage payments, a Short Sale is likely not an option.

Sell Quickly to a Cash Home Buyer

Time is not on your side when foreclosure is looming. Consider all your selling options—traditional sale, cash buyers, or even real estate investors. Selling to a local cash buyer may result in a lower offer, but the tradeoff is a quick, hassle-free closing that could save your credit. Make your listing as appealing as possible with clean photos and a well-written description to generate interest quickly.

Cash home buyers are investors who will pay cash for your house and close quickly. This fast closing will prevent you from going into foreclosure. Cash home buyers are experienced with working with mortgage lenders and the foreclosing attorney’s, so a cash home buyer will keep a foreclosure off of your credit report. If you are facing foreclosure, a cash home buyer who can close quickly is probably your best option. Cash home buyers will buy your house as-is so you don’t have to make costly repairs.

Take Action and Protect Your Future

Selling your house before foreclosure is not just about avoiding repossession—it’s about protecting your financial future. A foreclosure can stay on your credit report for seven years, making it harder to rent, buy another home, or even get a job in some cases. By acting quickly and seeking help from professionals—agents, attorneys, cash home buyers, or foreclosure specialists—you can take control of the situation and move forward with a clean slate. Here is more information about available resources is you are Facing Foreclosure