PROPERTY Mortgages, Conveyances to Secure Debt, and Liens: Amend Article 7 of Chapter 14 of Title 44 of the Official Code of Georgia Annotated, Relating to Foreclosures on Mortgages, Conveyances to Secure Debt, and Liens, so as to Require a Foreclosure to be Conducted by the Current Owner or Holder of the Mortgage, as Reflected by Public Records; Provide for the Identity of the Secured Creditor to be Included in the Advertisement and in Court Records; Change the Requirement for Mailing or Delivery of Notice to Debtor for Sales Made Under Power of Sales in a Mortgage Security Deed, or Other Lien Contract, to Provide for the Content of Such Notice; Provide for Related Matters; Provide an Effective Date; to Repeal Conflicting Laws; and for Other Purposes

Authors

Georgia State University Law Review

Document Type

Peach Sheet

Abstract

The Act amends the procedure for foreclosures in Georgia. The Act provides that a secured creditor provide the borrower with the identity of an individual or entity with full legal authority to modify the terms of the loan. The Act requires the identity of the secured creditor be recorded prior to foreclosure. Notice of the initiation of proceedings to exercise power of sale must be given to the borrower 30 days before the date of the proposed foreclosure.

Recommended Citation

Georgia State University Law Review, PROPERTY Mortgages, Conveyances to Secure Debt, and Liens: Amend Article 7 of Chapter 14 of Title 44 of the Official Code of Georgia Annotated, Relating to Foreclosures on Mortgages, Conveyances to Secure Debt, and Liens, so as to Require a Foreclosure to be Conducted by the Current Owner or Holder of the Mortgage, as Reflected by Public Records; Provide for the Identity of the Secured Creditor to be Included in the Advertisement and in Court Records; Change the Requirement for Mailing or Delivery of Notice to Debtor for Sales Made Under Power of Sales in a Mortgage Security Deed, or Other Lien Contract, to Provide for the Content of Such Notice; Provide for Related Matters; Provide an Effective Date; to Repeal Conflicting Laws; and for Other Purposes, 25 Ga. St. U. L. Rev. (2012).
Available at: https://readingroom.law.gsu.edu/gsulr/vol25/iss1/13