Legal Question in Credit and Debt Law in Georgia

My house was in the process of loan remodification..The bank told a friend that my house was in forclosure..Is that legal?

Asked on 10/17/12, 6:48 am

1 Answer from Attorneys

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No. I am not sure why your bank was talking to your friend at all. Is this the bank that holds the mortgage or is it your bank and your mortgage is through another lender? If the latter, how would the bank even know?

If the former, I don't quite understand how a bank person not involved with the mortgage lending division would know either. Is your friend somehow also on the loan? Is this a small town where everybody knows everybody else and their business?

Even so, it sounds like it would be a violation of the financial regulations regarding privacy. File a complaint with the Georgia Department of Banking & Finance at http://dbf.georgia.gov/complaints-and-inquiries as well as the federal Consumer Financial Protection Bureau at http://www.consumerfinance.gov/the-bureau/.

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Answered on 10/17/12, 7:17 pm

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