Forclosing On A 2nd Lien In Georgia
We are about to have our sale dates next month on six 2nd non-performing 2nd liens in Georgia we are foreclosing on, and our attorney tells me that we can't include the total of the first lien in our opening bid, only what we are owed with arrears, and the money flows down to subsequent liens, and NOT up to the first.
I am slightly shocked about this, especially if there are no other bids, and it reverts back to us as the new senior liens.
Anyone have any advice or comments on their experiences foreclosing on a junior lien in Georgia?