Bill Would Change Georgia's Mortgage Law
A state representative seeks a judicial foreclosure process.
The financial and economic collapse that began in earnest nearly five years ago has certainly dominated the headlines. One of the major symptoms has been a soaring rate of foreclosures that reached levels most Americans had never seen. Certainly anyone born after 1930 would have little to no recollection of when the economy was in such bad shape. Even as we begin a turnaround, the crisis continues to spur many lawmakers to call for further government regulation of the financial institutions that have taken much of the blame. This week has been no exception as Rep. Dar’shun Kendrick, D-Lithonia, introduced House Bill 781, which seeks to redefine the term mortgage in Georgia and change the current law to a system of judicial foreclosure. The…
