Legal Question in Real Estate Law in Georgia
after i had my mortgage refinanced my interest was set aside and now that my mortgage is almost payed off the interest has been put back on. the mortgage compant said my last payment could not be made until the interest is paid. how does this work and can the mortgage company take my land if the mortgage is not paid on time?
3 Answers from Attorneys
How it works is found in your loan documents. We do not have them. You do. Read them. Yes, if you don't timely pay your mortgage the lender can foreclose - again, in your documents.
As the prior responder stated, the answer is likely found in your loan documents. If you need assistance reading them and understanding your rights/obligations, please feel free to contact me. If the mortgage is not paid on time, the mortgage company can take your land.
Best of luck.*****The above is for informational purposes and does not create an attorney-client privilege.*******
Phillip and Scott have summed it up well. You have the answers in your own paperwork, which you should have read. We don't. If you fail to pay, they can foreclose (and sue you as well).
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