Legal Question in Real Estate Law in Georgia
How delinquent must a home owner be for forclosure?
I am 3 months behind in my mortgage. I would like to know at what point would forclosure begin. I just made June's payment August 25. My mortgage company has told me that if I don't make another payment by the first of September, they will begin forclosure. I think the rep was trying to scare me into getting my account caught up in a short period of time.
1 Answer from Attorneys
It Depends
The normal process for foreclosures is that the interested party would go to court to file documents to start the foreclosure proceedings unless when you signed the loan agreement, you allowed the lender to foreclose on your property by other means other than a judicial foreclosure. I am not clear from what you wrote me if you received notice in writing notifying you of the impending foreclosure or if it was just by telephone. The usual procedural is for the lender to notify you in writing of the pending foreclosure and the pay-off amount or what actions you need to take in order to avoid a foreclosure.
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