HB948: HB948 Property; debtors in foreclosures to receive certain information and forms in a notice of foreclosure; provide

Under current Georgia foreclosure law (O.C.G.A. § 44-14-162.2), lenders must notify a homeowner before starting foreclosure, but the notice requirements are limited. This bill expands what that notice must include. Lenders would have to name a specific person or entity with full authority to negotiate, amend, or modify the loan terms, and provide that person's address and phone number. The notice would also have to explain the homeowner's right to claim any surplus funds left over after a foreclosure sale and give instructions for making that claim. The bill requires bold-font language warning that unclaimed surplus funds can be treated as abandoned property and turned over to the state if not claimed within the time limit set by Georgia's unclaimed property law (O.C.G.A. § 44-12-193), currently five years. It also updates the law on how sale proceeds are distributed (O.C.G.A. § 44-14-190) to clarify that statutory liens are paid before any surplus goes to the homeowner.

• Requires foreclosure notices to name a specific person or entity with full authority to negotiate, amend, or modify the mortgage, along with contact information.
• Requires notices to inform homeowners of their right to claim surplus funds after a foreclosure sale and explain how to file that claim.
• Mandates bold-font warning language stating that unclaimed surplus funds may be treated as abandoned property and turned over to the state after five years, subject to change.
• Clarifies that surplus sale proceeds are distributed to the homeowner only after statutory liens and other priority liens are paid.
• Keeps the existing 30-day advance notice requirement before a foreclosure sale can proceed.

The bill affects homeowners facing foreclosure in Georgia, mortgage lenders and loan servicers who send foreclosure notices, and any lienholders whose claims are paid from foreclosure sale proceeds before surplus funds reach the homeowner.

Homeowners going through foreclosure would get clearer information about who can modify their loan and how to recover any money left over after the sale, potentially preventing them from losing surplus funds to the state simply because they didn't know how to claim them.

• Section 1 revises O.C.G.A. § 44-14-162.2 to require foreclosure notices to include the name, address, and phone number of the person with authority to negotiate or modify the mortgage.
• Section 1 requires notices to inform debtors of their right to claim surplus funds under O.C.G.A. § 44-14-190 and provide instructions for making an initial claim.
• Section 1 mandates bold-font language warning that surplus funds may escheat to the state under O.C.G.A. § 44-12-193 if not claimed within the prescribed timeline, currently five years.
• Section 2 revises O.C.G.A. § 44-14-190 to specify that surplus sale proceeds go to the mortgagor only after paying priority liens, including statutory liens where applicable.
• Section 3 repeals any conflicting laws.

1. 2026-03-19Senate Read Second Time (Senate)
2. 2026-03-18Senate Committee Favorably Reported (Senate)
3. 2026-02-17Senate Read and Referred (Senate)
4. 2026-02-12House Passed/Adopted By Substitute (House)
5. 2026-02-12House Third Readers (House)
6. 2026-02-06House Committee Favorably Reported By Substitute (House)
7. 2026-01-14House Second Readers (House)
8. 2026-01-13House First Readers (House)

• Beth Camp (R, HD-135)Primary sponsor
• Clint Crowe (R, HD-118)
• Karen Mathiak (R, HD-082)
• Alan Powell (R, HD-033)
• Rob Leverett (R, HD-123)
• Steven McNeel (R, SD-018)

1. PassedHouse voteFebruary 12, 2026

   159 yea, 0 nay (6 not voting, 10 absent)

   Passage: House Vote #510

• foreclosure
• property law
• surplus funds
• homeowner rights
• mortgage notices