Elva Branson-Lee, e-Pro, CDPE

Literally!

I've just eaten a scrumptious salad made primarily from the things in my own garden.

For many Americans, one of the main joys of home ownership is having a yard and enjoying a flower and/or vegetable garden. I personally get a proprietary thrill out of tending to my flowers and harvesting and lovingly preparing the fruit and vegetables I've grown in my own little patch of dirt.

I'm not alone. Home gardening is on the rise again in the United States. I recently read that the National Gardening Association estimated 33 million households had an at-home garden last year. I suspect that number may have grown some this year. In a time of social upheaval and economic recession, a home garden provides a relaxing escape from it all as well as a healthy and economical home activity. And the ultimate rewards are, well...very tasty!

Patio people needn't be left out of this delicious trend. This season I tried my hand at container gardening on my miniscule sideyard patio. It's the place where I sit with my morning cup and have my quiet time with God. My new potted plants seem to love it as much as I do. Judging by these beautiful and tasty tomatoes, I may have discovered a new talent. I'm already thinking about what I can plant in a pot next year.

Take my word for this, when it comes to tomatoes, cucumbers, sweet peppers, beans, carrots, summer squash, onions, hot peppers, lettuce and peas (the most popular vegetable crops for home gardens), you can't beat that sweet, wholesome home-grown flavor.

Nowhere is the foreclosure process faster or more brutal than in the state of Georgia. But even here, foreclosure can often be avoided -- even if you have already received the notice of sale. But don't wait until then to investigate your options. Find out for yourself what your possible outcomes might be as soon as you realize you're in trouble. In general, the Georgia foreclosure process can end one of five ways:

(1) You could pay off the default amount to reinstate the loan during a grace period known as pre-foreclosure. This is anytime up to the day of the foreclosure sale on the courthouse steps.

(2) Under President Obama's new plan, you could apply for a loan modification, which will temporarily or permanently change the terms and maybe even the principal amount of your home loan. There are strict guidelines in place and not every home owner can be helped, but if you desire to remain in your property, this could be your answer. Contact your lender right way to get the process started. For more information see my web page on Obama's plan to help homeowners stay in their homes.

(3) You could sell your property to a third party during the pre-foreclosure period, allowing you to settle the loan "paid as agreed" and avoid having a foreclosure on your credit history. This is commonly referred to a s a "short sale", although there is nothing short about the process, which can take weeks and sometimes months to successfully negotiate. For more information on this option, see my Short Sale Frequently Asked Questions page at AvoidGeorgiaForeclosure.com

(4) If all else fails, your home will go into foreclosure and a third party may buy the property at a public auction at the end of the pre-foreclosure period. In Georgia, these auctions take place at the courthouse of the county of record on the first Tuesday of every month.

(5) Finally, if the lender doesn't get a high enough bid at the auction, they may take ownership of the property, usually with the intent to re-sell. The lender can take ownership through an agreement with the borrower/owner during pre-foreclosure, called a "deed in lieu of foreclosure", or by buying back the property at the public auction.

If you are interested in discussing any of the non-foreclosure options with a Certified Distressed Property Expert, contact me @ AvoidGeorgiaForeclosure.com

Georgia home owner, are you getting behind in your mortgage payments? Are you getting threatening letters from your lender? According to a well-known local real estate attorney, there are a few things you can do in these situations that will help to stave off the foreclosure process in Georgia, buying you time to pursue an alternative outcome.

One place to start -- always ask them to produce the original loan documents and the security instrument. In Georgia, these documents are required before a lender can foreclose. Three types of security instruments are used in Georgia home purchases:

(1) Deed in Trust - This is a deed used in some states in lieu of a mortgage. It is rare to find this one used in Georgia, but it could be used in certain circumstances. In a Deed in Trust, title is held by a trustee on behalf of a lender (beneficiary) until the borrower (trustor) repays the loan.

(2) Mortgage - This is an instrument which secures a promissory note by either giving the lender a lien against the property or conveying title to the property, depending on state law. In Georgia, it is actually a lien agianst property. A mortgage requires judicial foreclosure.

(3) Security Deed - This is actually an instrument to secure debt which conveys title to the lender until the debt is satisfied. When the debt is satisfied, the instrument is canceled. This is the most common security instrument used in Georgia property purchases, and does NOT require judicial foreclosure. That is why the Georgia foreclosure process is one of the fastest and most brutal in the nation. With a security deed, the policy is usually "you don't pay, you don't stay."

Don't know which security instrument is held against your property? Ask your lender. Find out what you've got. Make them track it down. Issues to foreclosure can delay the process, buying you time to effect a workout plan, loan modification, or get the debt settled "paid as agreed" through a short sale.

As we celebrate our fallen heroes, I send a shout out to all of our service men and women in the military and all of our courageous first responders here at home.

We know that freedom isn't free. Thanks for your sacrifice and service in protecting it for us.

Have a Blessed Memorial Day.

For those of us who live and work in Georgia, President Obama's Making Home Affordable website and the Homeowner Stabilization Plan didn't come a moment too soon. High foreclosure rates have hurt our communities. And we need to start seeing this intiative begin bearing fruit real soon, because as of today...

...Georgia Foreclosure Filings Are Still Rising!

According to the most recent numbers reported by realtytrac.com, Georgia foreclosure filings are still climbing, and reached an all-time high in the first three months of this year. The report says that between January and March 2009 there were 28,608 foreclosure filings in the state, an increase of 11% from the previous quarter.

That should begin changing soon, as the new federal program officially launched in mid-March. I devoted a whole web page to the program's ins and outs. Read my take on it at AvoidGeorgiaForeclosure.com

Now Georgia real estate pros are watching closely to see if the program will result in these numbers declining in the coming months, both locally and nationally. It's success will depend largely on lenders cooperation in helping homeowners refinance or modify thousands of underwater mortgages.

The early reports I'm hearing in the field from homeowners is not encouraging. It appears that the calvary has arrived too late and with too little for many Georgia families. Others are finding that while their modifications are bringing them current by placing missed payments on the back of the loan, their monthly mortgage payments are not being lowered to a more mangeable amount. One client of mine actually had her monthly payment increased as a result of modification!

I'm interested in the real-life experiences of real homeowners seeking Loan modification or refinance help. Have you or your clients experienced real relief as a result of a loan modification or refinacne?