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

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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