Keller Williams Realty Atlanta – Peachtree Road
Atlanta Homes For Sale – Atlanta Real Estate News - Atlanta Home Buyers
Real Estate Legal Tip
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Is Georgia Affected By The Current Foreclosure Investigations?
Most of the current challenges, investigations, and allegations concerning improper affidavits, signatures, notaries, and foreclosures are in states with “judicial” foreclosure, where a judge must approve the procedure, based on the paperwork provided. There have been claims that this paperwork includes false affidavits, improperly notarized documents, and other defects.
Georgia is one of 27 states that do not require a judicial hearing for lenders to foreclose on borrowers in default.
Georgia has “non-judicial” foreclosure, which requires public notice by 4 weeks of advertising in the county newspaper for legal notices, followed by an auction of the property on the courthouse steps in the county where the property is located.
Although all 50 states are cooperating to investigate improper foreclosures, there are no title issues or title insurance coverage problems for people buying foreclosures in Georgia right now.
Some of the major lenders may still decide to delay or stop foreclosures nationwide, but if the foreclosures proceed in Georgia, the titles will be insurable.
This is another reason that the buyers should always get Owner’s Title Insurance, even if it is not paid for or provided by the REO (foreclosure bank) seller.
Presented by Leigh Clack, Attorney
Neel & Robinson Attorneys at Law, LLC
22 Lenox Pointe, Atlanta, GA 30324
lenox@neelandrobinson.com
404-705-3690 fax 404-705-3697
More Atlanta Real Estate Legal Tips:
How To Write an Counter-Offer Correctly
What Happens to HOA & Condo Dues in a Foreclosure?
What Makes Property Taxes Go Up and Down?
What Happens To Tenants When a Property is Foreclosed?
Make Sure Your That Your Contract Is Legible
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