Skip to main content
(678) 915-2634 Contact Us
Saying yes to foreclosure, walking away when it makes sense Atlanta, GA

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

Client Reviews

Saying yes to foreclosure, walking away when it makes sense

upset couple turning back on each other

Oversized mortgages, a downsized economy, and sloppy or outright fraudulent lender practices have led to an enormous increase in home foreclosures over the last five years. But as scary as it might be to think about losing a home to foreclosure — the fear of foreclosure for many Atlanta homeowners can be worse than foreclosure itself. In some situations, in fact, walking away is the only choice that makes any sense.

Unfortunately, many homeowners don’t realize that there might be alternatives to simply accepting whatever foreclosure terms a lender is willing to give them or that the foreclosure process can be used to their benefit.

Instead, they continue to struggle with making monthly payments on a house that in all likelihood isn’t worth anywhere close to what they owe on it. Some stay on the treadmill because the fear of foreclosure is overwhelming. Others do so out of a needless sense of shame or guilt. There are other reasons as well.

The reality is that Atlanta area residents facing foreclosure are not alone. The average homeowner has seen 60 percent of his or her home’s value disappear since the real estate market first crashed. By some estimates, one out every 196 homes in the state of Georgia is currently in foreclosure (to say nothing about the number of homes already foreclosed on).

What options do homeowners have? Refinancing or a loan modification can help some people save their homes from foreclosure but may be difficult to obtain. Getting your lender to agree to let you sell the house for less than you owe (a short sale) is another option but can be difficult to arrange as well.

You could even declare bankruptcy, which may or may not allow you to save your home but will stop the foreclosure process and buy you some time. As drastic as that might seem, slowly building and maintaining a clean credit clean for three years after a bankruptcy discharge will make you eligible for an FHA mortgage again.

The option that will work best for you will depend on your situation and other factors. Figuring out what the “right” option is, that’s the hard part — and it often requires professional advice.

Source: The Atlanta Journal-Constitution, “Nothing wrong with default,” Michael R. Bang, March 13, 2012

Posted on behalf of Jamie L. Gingold, PC

195 14th Street NE #1604
Atlanta, GA 30309

Phone: (678) 915-2634


First Free

    DisclaimerPrivacy Policy

    I have read the Disclaimer and Privacy Policy

    Our Client Reviews

    Jamie L. Gingold, PC
    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!

    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.

    Julie T.

    I contacted getting old and getting old regarding some old tax debt and credit card debt that I needed to address and had been putting off. miss Irving in the office was very very nice and put me at ease. I met with Jaime Gingold. She was very nice and explained the procedure to me and what would be left owing to the Internal Revenue Service and the State of Georgia after my case was done. My case has now been completed and I am on my way to a new start. Thank you Gingold and Gingold for all of your help.

    Anna T.

    Amazing! Outstanding!! They went over and beyond..I would recommend them to anyone needing a lawyer!!

    Write a review