With the rising number of foreclosures in Georgia, and in the Atlanta area we are facing a crisis.for the state of Georgia there have been a record number of increases in foreclosures in the Atlanta area, and we have also seen an increase in North Georgia foreclosures. Before you become a victim of a foreclosure, there are numerous sets you can take before hand in order to avoid foreclosure of your home. Now we have written about numerous things to take care of before your home goes into foreclosure and this time I would like to talk a little bit more about things you can do with your mortgage company.

One of the first things you should do if you're facing a foreclosure situation is to contact your mortgage company. Most people when they are in a financial situation like this will wait until the last minute call their mortgage lender and try and work something out at the moment, this rarely works. Depending upon your situation there are a number of things your mortgage company might be help you with in order to give you temporary financial relief. Here are a few items you should discuss with your mortgage company.

Forbearance; this is an agreement to temporary let you pay less than the full amount of your mortgage payment, or even pay nothing at all during forbearance period. Some mortgage companies will agree to this forbearance situation if you can show that you have a large sum of money coming in from a tax refund bonus check from work or some other form of payment. The important issue here is that this large sum of money must be able to bring your mortgage payment up to date.

Reinstatement; this happens when you pay the mortgage company the full amount of your mortgage that you are behind with them. Normally this is done in a love some payment to the mortgage company, which will bring you back up to fully paid for your mortgage. Normally you will find this happening in a situation where you've been in forbearance with the mortgage company.

Repayment plan; this is a situation where the mortgage lender will provide you a fixed amount of time in order to repay the amount which are behind with the mortgage company. Normally the way this will work is that you will still make your monthly mortgage payments but you will have an additional payment that will be part of what you are behind with the mortgage company. When the repayment period is over you with paid back all of the past-due mortgage payments while still keeping current with your mortgage payments every month.

Loan modification; here is a new situation where you have a written agreement between you and the mortgage company that will permanently change some of the original terms of your mortgage in order to make the payments more affordable for your current situation. Most of the time when you're in a situation where you've got a loan modification the mortgage company will add in the missing payments, and make any adjustments to your mortgage rate. They could also extend the number of years that you have to pay back the mortgage in order to make the payments more affordable to you.

Being in a foreclosure situation is not a good place to be, however you have many alternatives the four you lose your home to foreclosure. Working with your mortgage company is one of the best first options you should look at if you are approaching a foreclosure situation. And hopefully the items that we've discussed above will allow you to go in and work with your mortgage company to maybe get one of these new payment methods for you so that you do not going to foreclosure.

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