Legal Question in Banking Law in Georgia

I have a lein on a business and property it is the second lein a bank has the first. The first lein was for $510k and the scond (my lein) is for 90k. About 2 years after everything was filed the bank file a modification to original deed to secure debt for an additional 16k. Can a bank do this when there is a second in place and not even contact second lein holder?

Asked on 1/22/13, 7:15 am

1 Answer from Attorneys

Glen Ashman Ashman Law Office
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Yes they can. They come ahead of you (although their new claim for 16K may or may not be ahead of you depending on the wording of their original mortgage).

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Answered on 1/22/13, 9:56 am

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