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Georgia Foreclosure Laws

Summary:

Judicial Foreclosure	Yes
Non-Judicial Foreclosure	Yes
Security Instruments	Deed of Trust, Mortgage
Right of Redemption	Yes
Deficiency Judgments	Yes
Time Frame	Usually 90 days

Judicial Foreclosure: In the absence of a power of sale clause in the loan document that authorizes the lender, in event of default, to sell the property to pay off the loan balance, the lender must sue the borrower in court to obtain a court order to foreclose.

Non-judicial foreclosure requires that a notice of sale be published weekly in a newspaper of general circulation in the county in which the property is located for four consecutive weeks and mailed by certified mail to the borrower at least 15 days prior to the sale date.

The sale shall be conducted as a public auction on the first Tuesday of the month at the place designated in the notice of sale between the hours of 10:00 AM and 4:00 PM. If the day is January 1st or the July 4th, the sale will be conducted on the following day.

The defaulted owner has the right to redeem the property, and deficiency judgments are allowed.

Attorney General's Office
40 Capitol Square. SW
Atlanta, GA 30334-1300
Ph: (404) 656-3300
Fax:(404) 651-9148

This information is to give a general idea of the foreclosure laws in each state. The information is not guaranteed to be correct. State laws can change or some errors may have been made. Please use this only as a guide.