Short Sales in Georgia: What Homeowners Need to Know

When you’re facing mortgage trouble in Georgia, a short sale can be a lifesaver — a chance to avoid foreclosure, minimize credit damage, and move on with dignity. But Georgia has some unique laws and timelines that make the process a little different from other states. Here’s what every Georgia homeowner should know before starting a short sale — and how Crisp Short Sales can handle the hard parts for you.

## What Is a Short Sale, Exactly?

A short sale happens when your lender agrees to accept less than the full amount owed on your mortgage so you can sell your home and avoid foreclosure. The lender reviews your financial hardship, the home’s market value, and the sale offer before approving the deal.

Once approved, the property sells just like any normal home sale — except the bank must sign off on the final numbers before closing. That’s where experienced short sale help makes all the difference.

## Georgia’s Foreclosure Timeline Moves Fast

Georgia is a **non-judicial foreclosure** state, which means your lender doesn’t have to take you to court to foreclose. Instead, they only need to follow state notice requirements, and they can move to sell your home at auction in as little as **four weeks** after filing.

That’s fast — and why homeowners in Georgia need to act quickly if they’re behind on payments. Waiting until you get a foreclosure notice often leaves very little time to negotiate with the bank. A short sale can stop the foreclosure clock, but only if you start the process early.

## Deficiency Judgments in Georgia

One of the most important differences between Georgia and other states is **deficiency judgments** — the lender’s ability to come after you for the unpaid balance after a foreclosure or short sale.

Here’s the good news:

When handled correctly, a short sale often results in the lender **waiving the deficiency**, meaning you walk away owing nothing further. But this has to be negotiated and written into your approval letter. That’s one of the key areas where **Crisp Short Sales** ensures you’re fully protected — by making sure your lender agrees, in writing, to release you from any future debt obligation.

## Tax Consequences and 1099-C Forms

If your lender forgives a portion of your mortgage, they’ll issue a **1099-C** for the canceled debt. Depending on your situation, that amount *might* be treated as taxable income.

However, many homeowners qualify for relief under the **Mortgage Forgiveness Debt Relief Act**, especially if the property was your primary residence. We’ll help you understand what to expect and refer you to the right tax professional if needed.

How Long Does a Short Sale Take in Georgia?

Every lender is different, but most short sales in Georgia close in about **60 to 120 days** once the home is under contract. Factors like investor approval, multiple liens, or HOA dues can add time — but with the right experience, those issues can be resolved.

At **Crisp Short Sales**, we manage the entire process from start to finish — handling communication with your lender, collecting documents, working with your agent, and keeping everyone updated weekly through our online portal at crisp.expert.

## What Crisp Short Sales Does for You

Our job is to make the process as easy and stress-free as possible. We:

- **Handle all lender communication and paperwork**, so you don’t have to deal with endless calls or confusing requests.

- **Negotiate directly with your bank** to get full debt forgiveness whenever possible.

- **Coordinate with your agent and title company** to ensure a smooth closing.

- **Help you qualify for relocation assistance** programs — sometimes up to several thousand dollars — paid at closing to help you move.

And best of all, our service is **completely free** to you as the homeowner. We’re only paid by the buyer at closing, which means we’re just as motivated as you are to get the deal approved and closed.

Learn more about how we help homeowners through the short sale process or see who we serve to understand how we partner with both agents and sellers.

## The Bottom Line

Georgia’s fast foreclosure process means timing is everything. The sooner you reach out, the more options you’ll have — and the better your chances of avoiding foreclosure altogether. A short sale doesn’t just protect your credit; it gives you control and peace of mind when you need it most.

If you’re behind on payments or worried about losing your home, start your short sale today — and let **Crisp Short Sales** handle the rest.