Here is a summary of foreclosure laws and rules for the State of Georgia:
George lenders use a security deed and foreclose using non-judicial foreclosure.
In Georgia, lenders are only required to provide one notice--the "Notice of Sale." The notice can be delivered by certified or statutory overnight delivery mail, just 15 days prior to the sale.
There is no right of reinstatement and no right of redemption.
The lender can pursue a deficiency if it gets court approval within 30 days of the sale. The court will not give its approval unless the lender establishes that the property sold for its true market value.
Georgia has special rules for loans that charge extraordinarily high interest or fees. These loans are covered by the Georgia Fair Lending Act which requires the lender to provide additional notices. The special rules concerning these loans are covered by the Georgia Fair Lending Act, Ga. Code Ann. sections 7-6A-1 to 7-6A-11.
Much more information is available throughout this website, but for definitive advice speak to a local foreclosure or bankruptcy attorney.
