effective 07/01/2012...says in part:
"Code Section 44-14-13 of the Official Code of Georgia Annotated, relating to disbursement of settlement proceeds, is amended by revising paragraph (10) of subsection (a) and subsections (b) and (e) as follows:
"(b) This Code section applies shall apply only to transactions involving purchase money loans made by a lender, or loans made to refinance, directly or indirectly, a purchase money loan made by another lender refinance loans made by the current or a new lender, which loans will be secured by deeds to secure debt or mortgages on real estate within the State of Georgia containing not more than four residential dwelling units, whether or not such deeds to secure debt or mortgages have a first-priority status."
Read bill here:
http://legiscan.com/GA/text/SB365/id/592374
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