Skip to main content
(404) 685-8800 Contact Us
Georgia Foreclosures Remain Halted As Lenders Resume Seizures Atlanta, GA

Personal Attention & Experience Since 1971 Family-Owned, Family Focused

Client Reviews

Georgia Foreclosures Remain Halted As Lenders Resume Seizures

driveway of a detached house

We wrote last week about the nationwide investigation into “robo-signing” and other illegal foreclosure practices and the resulting voluntary foreclosure freeze put into place by lenders. This week, Bank of America announced plans to restart the foreclosure process in the 23 states that require judicial approval for foreclosures. As Georgia is not one of those states, local homeowners will not be immediately affected by the news.

In announcing that it would resume the seizure of more than 100,000 homes, Bank of America said that it has a legal right to continue with foreclosures despite the accusations of improperly executed documents. Ally Financial’s GMAC Mortgage plans to similarly resume foreclosures following a review of the documents involved in the allegations. Because the allegedly improper foreclosure practices were similar among most lenders, analysts say that other banks will not be far behind in restarting the foreclosure process.

While Bank of America says it is “confident” of its foreclosure decisions, it will continue to delay foreclosures in the 27 states, including Georgia, that don’t require the approval of a judge before a home is seized. Because the lack of judicial oversight makes it more difficult to detect illegal actions in these states, lenders plan to perform a more extensive review of foreclosure cases before proceeding with home seizures.

Because foreclosures will restart so quickly, the cost of the foreclosure document controversy may be significantly less than investors had previously feared, causing bank stocks that fell just weeks ago to rise again. Bank of America says that the controversy will delay less than 30,000 of its foreclosures.

However, new evidence appears to indicate that lenders’ legal troubles may be far from over. In a deposition released by the Florida attorney general’s office, a law firm office manager admitted to signing 1,000 files a day without reviewing them, often allowing paralegals to forge her signature. Because these practices occurred in one of the 23 states in which a lengthy court process is required for a foreclosure to proceed, it does not bode well for Georgia and the 26 other states that do not require such scrutiny.

Source: Atlanta Journal-Constitution, “Bank of America starts thaw in foreclosure freeze”, Alan Zibel, 18 October 2010

Posted on behalf of Gingold & Gingold

1718 Peachtree St NW, #385
Atlanta, GA 30309

Phone: (404) 685-8800

First Free
Appointment



Disclaimer Privacy Policy

I have read the Disclaimer and Privacy Policy

Our Client Reviews

Gingold & Gingold LLC
5.0 / 5.0

Based on 28 reviews

Jack L.

They did an excellent job with my case. Jamie took the time to really listen and understand things. She delved into the details and was extremely knowledgeable and non judgmental. Very professional and they know what they are doing. Would definitely recommend!

All C.

Mr. Gingold was recommended by an attorney I had worked with previously. I met with Ira Gingold to discuss credit issues. He went over each specific issue thoroughly. He advised me of the potential outcomes. He did all this in one meeting for a very reasonable price. When we finished I was confident in moving forward with a resolution. He definitely wants to help people take the appropriate course of action for their circumstance.

Karen B.

Dear Mr Gingold, There are so many reasons to be thankful for all you have done and will do. Anyone who has ever had unfavorable experiences with an attorney or the legal system will feel the trepidation that I experienced once I realized that my situation seemed hopeless. It was by chance and happily good luck that I decided to put my future and sanity into your hands. I was mortified at having to deal with my debts by claiming bankruptcy. I remember in our first meeting how you assured me that I was not alone and should not feel ashamed. And, anyone in this position obviously does not have money to spare and you were clear about all the costs and allowing me to pay according to my own ability to do so. You advised me in all aspects of the law, but also, you were at each meeting incredibly supportive and complementary of my personal and professional plans. Anyone else in this situation should feel blessed to have access to your expertise and support.

Lyla B.

I thought the process of filing bankruptcy was going to be a difficult one. However, Gingold & Gingold treated me with respect and dignity from the moment I walked through their door. I had the pleasure of working with Jamie. She is very responsive, professional, and knowledgeable. She took the time and listened to my every concern and handled each and every one of them to my satisfaction. My experience with filing bankruptcy under Gingold & Gingold's representation exceeded my expectations in a major way. They gave me such a peace of mind. I am very pleased with my decision of going with Gingold & Gingold to represent me when I filed Chapter 13 bankruptcy.

Julie T.

Wow! I am finally out of debt and can say that I am debt free after completing my chapter 7 bankruptcy case with Gingold and Gingold. Mr dangled was very knowledgeable and direct with regard to my debt situation. there were no surprises and the case went as I was advised. The staff was also very helpful whenever I had a question. I will definitely recommend them in the future to my friends.

Sherard W.

I cannot say enough about this law firm. From the initial consultation to our discharge, the entire office kept me updated with every step of the entire process. I came to the Gingold after a bad experience with another law firm. Ira and Jamie immediately began treating me like family through this experience. In the end, they assisted with eliminating many debts including my 2nd mortgage. I cannot say enough about the experience and knowledge that Ira brought to the table from the office visits to the court time. Thank you very much for helping me through this tough time. Thank you.

Write a review