My question involves a foreclosure in the State of: Georgia
My wife and I bought a house in Fayette County in 2005 with a 100% loan - 1st of $350,000 and a 2nd of $100,000 both from Sun Trust one of their new loan packages. A year later my job was eliminated and for a year we made the house payments until we ran out of savings late last year. Needless to say the house went to foreclosure on May 9th. We moved from the house to Arizona in 2006. I gained new employment in February of 2009 but Sun Trust offered to rewrite the loan but at a $100.00 a month more than the existing payment - even with the new job could not afford three house payments. The apt in Colorado, my wife still lives in our house in AZ and then GA house. Now we get a letter from some Insurance Company stating they paid Sun Trust the $100,000 and we now owe them a $100,000? In addition, Sun Trust still sends us statements for the 1st and 2nd? The deeds are specific that the house was the collatorial for the loans. Can someone tell me what is going on and whether or not I need to retain an attorney or is this something we can take care ourselves. I have already sent certified letters to the Insurance Company and Sun Trust stating that there is no outstanding balance and it satisfied under the terms of the deeds.
Any assistance from someone who knows GA law and/or Sun Trust would be appreciated.