Legal Question in Real Estate Law in Georgia

We had a townhouse that was foreclosed on a little over 1 year ago even after securing two separate buyers (one regular sale and one quick sale)who stayed in the process for an average of 6 months each. The bank prolonged the process each time that the buyers both dropped out. On top of that we found out this month that the bank was still hitting our credit each month for deliquient payments even though the property was foreclosed and sold about a year ago. Do we have a case against this particular bank?

Asked on 2/01/12, 9:09 pm

1 Answer from Attorneys

Scott Riddle Law Office of Scott B. Riddle, LLC
0 users found helpful
0 attorneys agreed

Unless the bank sold the property for enough to cover the loan and expenses you owed (which would be very rare), you owe them money. Obviously, that will show up on your credit report for many years to come and it is the bank who has a claim against you (if they followed procedures to confirm the sale) not vice versa. If the credit report is somehow incorrect in amount owed or other details, dispute it with the credit report. Otherwise, since you certainly know you still owe the money and the debt will be on your credit report, you need to tell us more details about what claim you think you may have.

Read more
Answered on 2/02/12, 2:27 am

Related Questions & Answers

More Real Estate and Real Property questions and answers in Georgia

Looking for something else?

Get Free Legal Advice

88423 active attorneys ready to answer your legal questions today.

Real Estate and Real Property Legal Forms

Browse and download our attorney-prepared and up-to-date legal forms from $4.99

Find a Legal Form

Featured Attorneys

Anthony SmithLawSmithLee's Summit, MO
Michelle ScopelliteGoldstein & Scopellite, PCTucson, AZ
Anthony RoachLaw Office of Anthony A. RoachChatsworth, CA
Find An Attorney

Are you an Attorney?

Earn additional revenue and grow your business. Join LawGuru Now