Legal Question in Real Estate Law in Georgia

Currently in a wrap mortgage because house didnt appraise when we went to finance it (we are the buyer), we closed on the house, put 3.5% down, we have been paying monthly notes to seller, we went to finally finance the house again and wouldnt appraise again, if we sign title back and give 30 days notice of moving, can seller sue us for "amount due on note". We live in Atlanta, Georgia? Please help us!

Asked on 1/27/11, 7:51 pm

1 Answer from Attorneys

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

If you walk away from a debt, of course the lender can sue you (if they follow the correct steps, and assuming you have the standard loan documents). This is in your loan documents, which should have been understood before you signed.

Read more
Answered on 1/28/11, 5:47 am

Related Questions & Answers

More Real Estate and Real Property questions and answers in Georgia

Looking for something else?

Get Free Legal Advice

88953 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
Glen AshmanAshman Law OfficeAtlanta, GA
Barry SteinDe Cardenas, Freixas, Stein & ZacharyMiami, FL
Find An Attorney

Are you an Attorney?

Earn additional revenue and grow your business. Join LawGuru Now