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Bill to limit large institutional home ownership and restrict some foreclosures draws mixed reaction
Summary
Representative Bell introduced HB 403, proposing limits on large institutional single‑family home ownership, judicial foreclosure protections for some vulnerable homeowners, and restrictions on HOA foreclosure powers.
Representative Bell presented House Bill 403, which he described as the "Georgia Dream and Senior Protect Home Protection Act," saying the measure would address institutional investors, foreclosure protections for vulnerable homeowners and limits on homeowner association foreclosure powers.
"What this does is provide the American dream for all Georgians," Representative Bell told the Judiciary Committee. As presented, he said the bill would apply to large real‑estate investment companies that own 10,000 single‑family investment homes or hold roughly $25 million in property value, would require a judicial foreclosure process in certain cases involving elderly or…
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