Judicial and non-judicial foreclosure is available in Georgia. Primary service instruments are deed of trust and mortgage. The timeline for foreclosure in Georgias varies by process, but typically lasts 90 days. Right of Redemption and deficiency judgments are allowed.
In Georgia, lenders may foreclose on deeds of trusts or mortgages in default using either a judicial or non-judicial foreclosure process.
Power of Sale Foreclosure Guidelines:
• A foreclosure notice must be mailed by certified mail, return receipt requested, to the borrower no later than 15 days prior to the date of the foreclosure sale.
• The time period begins the day the letter is postmarked.
• The notice must be mailed to the address given to the lender by written notice from the borrower.
• No waiver or release of the rights to notice is valid if it was signed at the same time as the original documents.
• The notice must be published in a newspaper of general circulation in the county where the sale will be held once a week for four (4) weeks proceeding the date of the foreclosure sale.
• The sale must be made by public auction on the first Tuesday of the month between 10:00 am and 4:00 p.m. at the courthouse.
• Lenders may seek a deficiency judgment in Georgia.
Non judicial foreclosure in georgia is utilized in conjunction with power of sale guidelines. Foreclosure in atlanta ga can be avoided by visiting Udolegal.com. For Information on hud foreclosures in georgia contact Atlanta Regional Office Dept. of Housing and Urban Development Five Points Plaza Building 40 Marietta Street Atlanta, GA 30303 Phone: (404) 331-5136
Georgia foreclosure laws can be found at Udolegal.com. Foreclosure homes in georgia are now governedunder a new law. On May 13, 2008 Governor Sonny Perdue signed into law Senate Bill 531. The bill increases the notice to a homeowner before a lender can foreclose. SB 531 lengthens the notice period from 15 days to at least 30 days prior to the scheduled foreclosure sale. Foreclosure listings georgia have risen to a level not seen since the great depression. Foreclosure auctions in georgia are held on the courthouse steps. Georgia foreclosure notices must be mailed by certified mail, return receipt requested to the borrower no later than 15 days prior to the date of the foreclosure sale.
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