In May, Georgia lawmakers passed House Bill 987 with broad support. Called the Georgia Property Owners’ Bill of Rights Act, this law gives new protections to homeowners facing foreclosure and brings together rights that were previously scattered in different laws or court decisions. For homeowners in North Atlanta, these changes make the process clearer during what can be a very stressful time. 

 

The act will take effect on July 1, 2026, and will apply to all future foreclosure cases. In Georgia, lenders can foreclose without going to court, so these new protections are important for homeowners who may have few options if problems come up. Knowing your rights can help you protect yourself, whether you are going through financial trouble, thinking about selling before foreclosure, or just want to understand your legal protections as a Georgia homeowner. 

 

The Georgia Property Owners’ Bill of Rights Act establishes eight core protections that foreclosing entities must now honor.

 

Right to a Single Point of Contact: Once your loan enters the foreclosure process, your lender must assign you one person or team who can answer questions, discuss options, and handle communications. You will not get transferred between departments while trying to resolve issues or explore alternatives to foreclosure. 

 

Right to Timely Document Review: When you submit a loss mitigation application requesting a loan modification, short sale approval, or forbearance plan, your lender has 30 days to review your complete package and provide a decision. This timeline prevents applications from sitting in limbo while foreclosure moves forward.

 

Protection from Dual-Tracking: Your lender cannot pursue foreclosure while reviewing your loss mitigation application. This prohibition on dual-tracking means your lender must pause the foreclosure process if you submit a complete application at least 37 days before a scheduled foreclosure sale and keep it paused until they decide on your application.

 

Right to Appeal Denial: If your lender denies your loss mitigation application, you have the right to receive a written explanation that tells you what led to the denial and what process exists to challenge that decision.

 

Right to Accurate Accounting: You can request a detailed breakdown of what you owe, including principal, interest, fees, and costs. The foreclosing entity must provide this accounting within a reasonable timeframe, which prevents situations where homeowners face inflated or unexplained charges they cannot verify. 

 

Protection Against Wrongful Fees: The act limits certain fees that lenders and servicers can charge during the foreclosure process, including inspection fees and property preservation costs. Lenders must now justify these charges and cannot pad bills with duplicate or unnecessary costs.

 

Right to Information About Foreclosure Alternatives: Your lender must inform you about alternatives to foreclosure, including loan modifications, repayment plans, short sales, and deeds in lieu of foreclosure. This requirement ensures homeowners know their options before losing their homes.

 

Right to Pre-Foreclosure Notice with Specific Content: Before starting foreclosure, lenders must send you a notice that includes the intent to foreclose, information about housing counseling resources, your right to request information, and contact details for your assigned single point of contact. 

 

The effective date is July 1, 2026. Any foreclosure proceedings that start on or after this date fall under the new requirements, while foreclosures that began before July 1 continue under the previous rules, though some provisions may apply if new actions occur after the effective date. Georgia uses a power-of-sale foreclosure process that takes a minimum of 37 days from the initial notice to the sale date. Under the new act, this timeline becomes more structured with checkpoints where homeowners can exercise their rights.

 

Here's how the timeline works under the new protections: Your lender sends the required pre-foreclosure notice detailing your rights, and you have at least 30 days from that notice to submit a complete loss mitigation application. If you submit your application at least 37 days before the scheduled foreclosure sale date, the lender must pause the sale and then has 30 days to review your application and provide a written decision. The Georgia Department of Law provides oversight and enforcement, but individual homeowners can also pursue legal remedies if lenders violate these requirements. The act creates a private right of action, which means you can file suit if a foreclosing entity fails to follow the law.

 

The ban on dual-tracking stops one of the most damaging foreclosure practices. Before this law, many homeowners tried to get a loan modification while their lender was still moving forward with foreclosure, and some lost their homes even after sending in all their paperwork because the review took too long. The single point of contact rule also fixes another problem: having to talk to different people who do not have your information. Many Georgia homeowners have spent hours on hold, repeating their story to new representatives who could not help. Having one contact person makes things clearer and helps avoid confusion during a stressful time.

 

The rule about accounting transparency helps you check what you really owe. Foreclosure often brings extra costs, like attorney fees, inspection fees, property maintenance, and other charges that can add up quickly. The new law says lenders must list these charges so you can question any that seem too high or wrong. The 30-day review period for loss mitigation applications gives you a clear deadline, so you will know within a month if you are approved for a modification, repayment plan, or another option. Before, lenders could take as long as they wanted, leaving homeowners unsure about their situation.

 

For North Atlanta homeowners, these protections are important because home values in our area have gone up a lot in recent years. If you bought a home in East Cobb or Roswell some time ago, you may now have a lot of equity. That makes it worth protecting your home or making sure you have enough time to sell it the traditional way, instead of losing your equity in a foreclosure.

 

Cherokee, Cobb, and North Fulton counties use the same state foreclosure rules, so the Georgia Property Owners’ Bill of Rights Act applies everywhere in our area. The act does not change the basic foreclosure process, but it adds new steps that give you more control and information.

 

Document Everything: Keep copies of every communication with your lender, including emails, letters, and notes from phone calls with dates and names. If you need to prove your lender violated dual-tracking prohibitions or missed review deadlines, this documentation becomes your evidence.

 

Act Early: The protections work best when you engage before foreclosure proceedings begin. Once you receive that initial notice, you have specific timeframes to act, and waiting reduces your options and shortens the window for alternatives.

 

Understand Your Equity Position: In North Atlanta’s current market, many homeowners have significant equity even if they have fallen behind on payments. A traditional sale through an experienced agent often nets you far more than a foreclosure would, which allows you to pay off your mortgage and walk away with funds rather than a foreclosure on your credit record.

 

Know Your Resources: The act requires lenders to provide information about housing counseling resources. The Georgia Department of Community Affairs maintains a list of HUD-approved housing counseling agencies that can help you understand your options at no cost. These counselors can review your financial situation and help you determine whether a modification, repayment plan, or sale makes the most sense.

 

Consider the Sale Alternative: If you are facing foreclosure due to a job loss, medical bills, divorce, or another life transition, selling before foreclosure might help preserve your equity and credit. The homes we work with in Woodstock, Canton, Roswell, and Marietta often have enough value to pay off the mortgage and associated costs, which allows you to move forward with a clean slate rather than the seven-year credit impact of foreclosure. The act’s single point of contact provision means you should get clear answers when you call your lender. Use that contact to ask questions: What is my current payoff amount? What loss mitigation programs do you offer? What documentation do you need for a complete application? How long will the review take?

 

The Georgia Property Owners’ Bill of Rights Act gives real protections, but they only work if you know about them and use them. The law gives homeowners more control during foreclosure and brings order to a process that used to be confusing and limited. These rights apply to all residential property owners in Georgia, whether you own a single-family home in Canton, a townhome near Marietta Square, or a rental in North Fulton County. Knowing your rights helps you make better choices if you face financial trouble.

 

We have guided families through all kinds of transitions, even the tough ones. Sometimes that means working with lenders, sometimes it means helping you sell your home quickly and fairly, and sometimes it means connecting you with the right legal or financial help. Your next step does not have to be foreclosure if there are other options.

For up-to-date market info and neighborhood data, visit pathpost.com/reports to see what homes are selling for in your area. If you are facing foreclosure or want to learn more about your options, reach out to us at Path & Post. We are here to help you move forward, whatever your situation may be.