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The
Judicial Foreclosure process in Georgia is followed if the original
loan documents do not contain a “power of sale” clause. The
lender must sue the borrower in court to obtain a court order
to foreclose.
The
Non-Judicial Foreclosure process is followed if the original
loan documents do contain a “power of sale” clause, authorizing
the lender to sell the property in the event of a default. For
four (4) consecutive weeks, notice of the sale must be published
in a newspaper of general circulation in the county that the
property is located in. A copy of the notice of sale must be
sent by certified mail to the borrower. This must be done at
least fifteen (15) days before the scheduled sale date.
In Georgia
, the sale of the property is conducted on the first Tuesday
of the month between 10:00 am and 4:00 pm at the place designated
in the notice of sale. |