Georgia licensees and registrants are required to provide to each applicant a foreclosure disclosure which explains that failure to meet conditions and terms of the loan may result in foreclosure. Georgia regulations provide that this disclosure requirement may be satisfied by complying with a substantially similar disclosure as required by federal law. Given this language, you may be relying upon the Closing Disclosure and are no longer providing a separate Georgia Foreclosure Disclosure. If so, stop! The Georgia Department of Banking and Finance has taken the position that the foreclosure language on the Closing Disclosure is NOT substantially similar to the Georgia language and cannot be used to satisfy the Georgia requirement. We recommend a disclosure containing the specific Georgia language be provided.