Legal Question in Real Estate Law in Georgia

First the vent: America's mortgage lenders are disgusting in how they have addressed the real estate crisis. Some, such as Bank of America/Countrywide, Wells-Fargo, GMAC, Citibank, Chase, etc. have been sued over and over for their practices. Many are frankly completely incompetent in how they deal with distressed borrowers. But you know this part.

Now the solution. While current practices work against you, as lenders penalize you for being current, don't give up. When a lender says they can't it means the person you are speaking to has CHOSEN not to help. EVERY bank in America has the power, at any time, to reduce interest rates, lower payments, lower balances etc. Sometimes persistence and finding the right contact at a bank helps.

But when you hit a brick wall, I suggest seeing a lawyer to review all your options. A good lawyer can look at modification, but also discuss whether walking away is an option. They can look at refi's,and also at bankruptcy options (13 and 7) that may also help.

The one thing NOT to do: Do NOT pay a fee to companies that claim they can do a modification for you. Those are scams.

But start with a strategy session with a lawyer. That doesn't cost much and will at least give you a battle plan.