Legal Question in Credit and Debt Law in Georgia
If there is a lien on your home, and the home is foreclosed on, when the property sells, does the lien follow the property or the previous owner?
Asked on 1/25/12, 7:35 pm
2 Answers from Attorneys
Glen Ashman
Ashman Law Office also dba Glen Ashman Attorney
Assuming some facts you left out - the mortgage predating the lien - usually you still owe the debt and it follows you.
Answered on 1/25/12, 7:43 pm
It depends on what the lien was for. If this was something like a judgment which acts as a lien when entered, the judgment would still follow you. If its a lien like for a second mortgage, then the state deficiency laws would come into play.
You need to see a real estate or possible bankruptcy attorney regarding the foreclosure/liens.
Answered on 1/26/12, 1:43 pm
Related Questions & Answers
-
Can you be criminal prosecuted for not paying a payday loan? Asked 1/23/12, 1:55 pm in United States Georgia Credit, Debt and Collections Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
