Legal Question in Real Estate Law in Georgia
If I let the house I live in go into foreclosure, it is owner financed, do I get my initial down payment back? I live in Georgia.
Asked on 8/13/13, 10:39 am
2 Answers from Attorneys
Scott Riddle
Law Office of Scott B. Riddle, LLC
Your post does not make sense. If you let your house go into foreclosure, presumably because you did not make the payments, why would you get your down payment back? You may get sued.
Answered on 8/13/13, 10:41 am
Glen Ashman
Ashman Law Office also dba Glen Ashman Attorney
Not only do you not get the down payment back, but you also may be sued for a deficiency. You need to see a lawyer way before the foreclosure date to come up with a strategy.
Answered on 8/13/13, 10:58 am
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