GA foreclosure laws, second trust deed mortgage secured loan collection state of GA

CONTACT an ATTORNEY ASAP before you a subject to a default judgment.

There are a number of issues and questions posed by your posting. If the first lender has sold the property at a lawfully conducted foreclosure sale, they would record the foreclosure deed and, absent very unusual situations, the second lien holder and any other junior lienholders would have had their lien interests terminated by the foreclosure of the first lender.

If there is a summons (which is NOT required for a foreclosure under a power of sale), the lender may be attempting to collect their note against you personally. Without the documentation to review, it cannot be determined by your post. In typical home loan situations, the borrower signs a promissory note which is secured by the property. The lender is NOT limited to collecting by seeking proceeds from the property such as in a foreclosure. They have the right to collect directly on the note against the borrowers who signed unless the note contains documents which limit the rights of the lender solely to the property. That type of limitation language is not typical.

You should definitely consult an attorney ASAP! You have a limited time period to respond to the summons which is stated on the face of the summons (20-30 days). If you do not respond properly in that time period, the plaintiff may be able to get a default judgment agains you.

This response does not create an attorney-client relationship.