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Foreclosure Deficiency Tag

Guarantor Liability After House is Foreclosed

Can a person who is a guarantor of a mortgage be held liable for the deficiency after after a house is foreclosed? According to a recent decision by the Georgia Court of Appeals, the answer is yes. Guarantor liability from foreclosures just took a harsh turn for guarantors in Georgia.In COMMUNITY & SOUTHERN BANK v. DCB INVS., LLC, 760 SE 2d 210 - Ga: Court of Appeals 2014, the court concluded that " CSB's failure to obtain a valid confirmation of the foreclosure sale, pursuant to OCGA § 44-14-161, does not 'impair its authority to collect the difference between the...

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