Legal Question in Real Estate Law in Georgia

I downsized and put my home on the market in October 2010, and purchased a small condo. I still pay the mortgage and utilities on the home. However, as a senior citizen on a fixed income, it is becomiing more difficult to continue paying these monthly bills.

My question is, can the mortgage company put a lean on the condo I currently live in since it is paid for and is bank account in jeoprady of being tapped into by the mortgage company as well?


Asked on 1/25/11, 11:18 am

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

If they foreclose, confirm the sale, and sue you and win a judgment for the balance, the answer is yes to all the questions (assuming the house is in GA and the standard loan documents are used).

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Answered on 1/27/11, 2:11 pm
Glen Ashman Ashman Law Office also dba Glen Ashman Attorney

If they foreclose and seek a deficiency, yes.

See a lawyer NOW. You may be able to do some things to protect yourself.

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Answered on 1/27/11, 6:37 pm


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