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WSB-TV reports that under Georgia law, third-party lien holders must notify you within 60 days of assuming your debt and can charge you a one-time 10% penalty, with 1% interest accruing each month.
Homeowners associations (HOAs) have come under fire in Georgia for abusing homeowners with excessive fees and foreclosures. “None of it makes any sense,” said Karyn Gibbons, who received a ...
Equity stripping, also known as equity skimming, is a type of foreclosure rescue scheme.Often considered a form of predatory lending, equity stripping became increasingly widespread in the early 2000s.
However, foreclosure, albeit extrajudicial, is found to be necessary in Georgia to cure a default. Because of the apparently self-contradictory nature of the Georgia statute, the Courts within Georgia have construed the operation of security deeds to mean that the grantor retains the equity of redemption , such that non- or extrajudicial ...
Several U.S. states, including California, [16] Georgia, [17] and Texas [18] impose a "tender" condition precedent upon borrowers seeking to challenge a wrongful foreclosure, which is rooted in the maxim of equity principle that "he who seeks equity must first do equity", as well as the common law rule that the party seeking rescission of a ...
Judicial foreclosure: With a judicial foreclosure, the lender files a lawsuit and the borrower is notified of the non-payment. The homeowner has 30 days to make up the missed payments, otherwise ...