Legal Question in Real Estate Law in Georgia

My current lender is wanting to foreclose on me if I do not make my balloon payment on time. I am in the process of refinancing, but was told that I might not get closed by the due date of the balloon payment. The current lender is wanting the house back due to the amount of equity that is in the home. If I am a week late on coming up with the money do I have the legal right to pay off the note?


Asked on 10/28/09, 8:13 am

1 Answer from Attorneys
Scott Riddle Law Office of Scott B. Riddle, LLC

Your rights and obligations are found in your loan documents. After a foreclosure sale, someone else owns the property. They may or may not be interesting in selling the house back to you. You won't "refinance" as you won't own the property.

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Answered on 11/02/09, 8:20 am


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