Legal Question in Real Estate Law in Georgia

I had a 80/20 mortgage which has been foreclosed, but the smaller mortgage is still trying to collect. Can I do anything to stop this?


Asked on 1/13/14, 8:21 am

2 Answers from Attorneys
Scott Riddle Law Office of Scott B. Riddle, LLC

To stop it - bankruptcy. Otherwise, you will have to defend the case, or settle. Junior lenders will often be open to a reasonable settlement depending on your financial situation.

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Answered on 1/13/14, 8:28 am
Glen Ashman Ashman Law Office also dba Glen Ashman Attorney

It is not uncommon to see 2nd mortge companies sue. Your options tend to be to work out a settlement or wipe it out via a bankruptcy. The smart thing to do is to sit down early with a lawyer and evaluate the options.

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Answered on 1/13/14, 10:54 am


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