Georgia AG-elect wants power to investigate foreclosures
ATLANTA, Georgia: Newly-elected Republican State Attorney General Samuel S. Olens announced on Wednesday, December 1st, 2010 that once he is sworn into office he will push the State General Assembly "for the authority to launch criminal investigations of improper foreclosures." This will be just the first in what property law experts predict will be a series of procedures enacted so as to tighten the state's foreclosure laws. While current state law empowers the state's top attorney to pursue instigators of mortgage fraud, the statewide officer does not yet have the ability to bring litigation against those who commit foreclosure fraud.
The reason the state government is pushing this matter so vigorously is that Georgia is among the Top 10 states in foreclosure filings, with lenders completing more than 13,000 foreclosures in the first half of the year already, a twenty-nine percent jump from the same time last year. Supporters of the move claim "cases of improper foreclosures are happening in Georgia, but they have largely gone unchecked because state law does not require court intervention."
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