Foreclosure is the legal process effected through the court system in which a mortgagee (lender—often a bank) terminates a mortgagor’s (borrower’s) interest in the real property in which the mortgagor gave the mortgagee a security interest (a lien) as collateral for the loan used to purchase the property.

Foreclosure generally occurs when a homeowner defaults and fails to make mortgage payments as required by the loan agreement (promissory note).

Foreclosure allows the lender to seize the property, remove the homeowner, and sell the home—all of which are legal remedies the mortgagor and mortgagee agreed to in the mortgage contract.

In Georgia, foreclosure is a non-judicial process, meaning it does not typically go through the court system. When a homeowner defaults on their mortgage payments, the lender may initiate foreclosure proceedings. The process begins with the lender sending a default notice to the borrower, followed by a legally required advertisement of the foreclosure sale in the local newspaper for four consecutive weeks. The sale is then conducted on the first Tuesday of the month at the county courthouse. Georgia law does not require a pre-foreclosure notice to be sent to the borrower before the advertisement begins, but the terms of the mortgage agreement may require such a notice. If the property is sold at foreclosure, the homeowner has no right of redemption to reclaim the property after the sale. It's important for homeowners facing foreclosure in Georgia to consult with an attorney to understand their rights and any potential defenses they may have.