If you are facing foreclosure in Georgia, it’s important to understand some of the basics, including:
- the most common type of foreclosure procedure (judicial v. nonjudicial) used in Georgia
- how much time you have to respond
- your rights and protections in the process, and
- what happens afterwards (for example, whether you’ll be liable for a deficiency judgment).
Below we have outlined some of the most important features of Georgia foreclosure law. Keep in mind that this is just a summary; we’ve included statute citations so you can get more details from the laws themselves. And be sure to check out Nolo’s extensive Foreclosure section, where you can find information about all aspects of foreclosure, definitions of foreclosure terms (like redemption and reinstatement), and options to avoid foreclosure.
|Common type of foreclosure process||Nonjudicial: under power of sale in deed of trust|
|Time to respond||Foreclosing party must mail notice to homeowner 30 days before sale. Additional notice by publication in a newspaper of general circulation may be required.|
|Reinstatement of loan before sale||High-cost loans may be reinstated until the sale.|
|Redemption after sale||No|
|Special protections for foreclosures involving high-cost mortgages||Additional notices required for high-cost loans. Georgia Fair Lending Act, Ga. Code Ann. §§ 7-6A-1 to 7-6A-13|
|Special state protections for service members||Ga. Code Ann. § 46-5-8|
|Deficiency judgments||Not unless court confirms that property was sold at its fair market value|
|Cash exempted in bankruptcy||$5,600 for one person, $11,200 for a married couple|
|Notice to leave after house is sold||New owner may demand that former owner leave and may immediately seek an order ousting former owner. Ga. Code Ann. § 44-7-50|
|Foreclosure statutes||Ga. Code Ann. §§ 44-14-160 to 44-14-191|