How a Georgia lender foreclosures on a property is dependent on the terms of the loan agreement. If the loan agreement contains a power of sale clause then the lender can start the foreclosure process without court involvement. The lender must follow the public notice and sale requirements set forth in the loan documents unless the loan documents are silent as to the specific procedures in which case the procedures are set by state law.
If, however, the loan documents do not contain a power of sale clause then the lender must sue the borrower in court in order to initiate a judicial foreclosure proceeding.
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This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified foreclosure and alternatives lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact a local foreclosure and alternatives attorney to discuss your specific legal situation.