Is a time limit for collecting a deficiency balance from a f

rljinvestors · Joined: 11 Jul 2008 Posts: 2 2.27 Dollars($)

Is a time limit for collecting a deficiency balance from a foreclosure...We had a foreclosure. The deficiency balance was $61k! The house only appraised for $164,000. The foreclosure was in April. Is there a time limit for collecting the balance in Georgia?

helping_user · Posted: Mon Sep 08, 2008 1:13 am Post subject:

Welcome rljinvestors.

There is a time limit for collecting deficiency payment or filing a judgment for it. It's a period of 30 days after foreclosure in Georgia. In most states, it extends to 4-5 years from the date of foreclosure.

Thanks.

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