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dorisshaw · Joined: 03 Jan 2010 Posts: 1 1.30 Dollars($)

I am currently in a forclosure home in Atlanta, Georgia. I have left the home with a realtor and am attempting to negotiate with my banker for a short Sell. There is no second mortgage and this has been my primary residence. I have moved to Bend, Oregon and have established myself as a resident. Would the Oregon law protect me from any deficiency should the home go into forclosure or short-sale?

jameshogg · Posted: Sun Jan 03, 2010 9:32 pm Post subject:

Hi dorisshaw,

As the property is located in Georgia, the law of that state will prevail when the lender forecloses the property. After a foreclosure or a short sale, you would be responsible for the deficient amount resulting from the sale. They may garnish your wages or place a lien on your property. However, as you're now based in Oregon, your lender will have to file a case in the court of Oregon in order to do so.

Thanks

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dorisshaw@comcast.nt