In Georgia Power of Sale Notice requirements Tomika Law Real Estate

Question 3 / 15: In Georgia, Power of Sale Notice requirements include all of the following except

A Foreclosure sales must take place on the first Tuesday of each month (between 10AM and 4PM)
at the courthouse. The trustee will auction the property to the highest bidder at the courthouse
steps.

B The lender must then publish the notice of the scheduled foreclosure sale in the county newspaper
in which the property is located for four (4) consecutive weeks before the sale. The borrower
must also receive by certified mail notice at least fifteen (15) days before the date of the
proposed sale.

C There is a statutory right to reinstate the loan prior to the sale in Georgia in which the
borrower can regain title to property provided that the balance is paid in full.

D Prior to initiating a foreclosure, the lender must send a demand letter requesting the payment
of all past due amounts, which gives the borrower ten (10) days to pay these amounts otherwise
foreclosure proceedings will begin. If payment is made at this stage no attorney's fees are
assessed.

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Georgia Law Real Estate Practice Exam

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