My question involves a foreclosure in the State of: Georgia
I recently went through a nasty divorce. The final judgment was entered In January 09 Nunc pro tunc to October 2008. The “marital residence” was ordered sold and we were ordered to comply with the pricing suggested by the realtor. We have a first mortgage with Bank of America as well as a second HELOC also with Bank of America. The court found the funds from the HELOC were used for improvements to the home. We were ordered to pay the first and second payments on alternating months. My ex wife was in contempt the minute she walked out the door. She initially refused to sign the listing agreement, and then refused price reductions and failed make any of the payments including utilities. I was not going to throw good money after bad so I also stopped making payments after sending in two to my attorney to hold in escrow. The home is about to be foreclosed on.
I lost my job in December but have found employment in Florida and have been residing her since February. My question is since both loans are with the same institution can they pursue a deficiency judgment on the second? My understanding is they have the right but in practice don’t pursue deficiency judgments on the first mortgage in Georgia. Also is there a statue of limitations for pursuing deficiency judgments on the 2nd? My understanding is that it’s 30 days for the first.
Thanks in advance

