In last March’s edition of this newsletter, we discussed the Supreme Court of Georgia’s decision in PNC Bank, National Association v. Smith, in which the Court held that compliance with O.C.G.A. § 44-14-161 “is a condition precedent to the lender’s ability to pursue a guarantor for a deficiency after a foreclosure has been conducted, but a guarantor retains the contractual ability to waive the condition precedent requirement.”
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