You and your fellow homeowners need to seek consultation from a real estate attorney in your area as to what is happening to your new development.  It appears that your builder has probably filed for bankruptcy and this will effect your rights as well as the rights of your fellow home owners.  The attorney will need to read all the documents associated with the development and see how they relate to the rules and laws governing home owners associations in Georgia.  There indeed may be a way for you to file a petition to allow you to form your own home owners association at this point in time and to protect yourselves.  You all may also have to file in the bankruptcy court if there is something that was owed to you by the builder but was not done.  Seek help.  Good luck.