Legal Question in Real Estate Law in Georgia

I have some commercial property that may go into foreclosure, If it does, will I be liable for the balance of the loan. I bought through my business , but I am the grantee on the loan. I have had it on the market for over a year, no bites. And I have paid every payment, never late, for 3 years. Now I am out of work, and soon will not be able to pay the payments.


Asked on 8/05/09, 12:31 pm

2 Answers from Attorneys
Charles W. Field Charles W. Field, Attorney at Law

You may want to condider "loan modification" and/or forbearance with your lender. I am working on serveral of these now.

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Answered on 8/10/09, 2:34 pm
Scott Riddle Law Office of Scott B. Riddle, LLC

Your loan documents will tell you who is liable. That is not something anyone on here can tell you.

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Answered on 8/10/09, 4:52 pm


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