Short Sale in Georgia - True or False

Is it true now you must hold a Mortgage license to negotiate a SS in GA?
Thank you

There is some validity to that. You must comply with the Mortgage SAFE mortgage licensing act. Visit these 2 sites for a better explanation

garealtor dot com/GovernmentalAffairs/CurrentIssues/QAonComplyingwithSAFEAct/tabid/503/Default.aspx

hud dot gov/offices/hsg/ramh/safe/smlicact.cfm

They’ll help to better answer your question.


The federal SAFE act is the general guideline but many states have their own version with slight changes.
In general you do not need to be licensed to negotiate a short sale. The SAFE Act is to regulate people who are in the business of originating mortgages or offering mortgages to consumers.
In a ss, you are negotiating to buy a home, not originate a mortgage.

It would affect you if you want to turn around and sell the home with “seller financing”.

Check with your state for specifics.