Foreclosure Rate Still Climbing in Atlanta Metro

Metro Atlanta saw a 10 percent increase in foreclosures from November and a 77 percent increase over last December, according to numbers gather by Equity Depot. The company says that 10,341 foreclosure notices were published in the 13-county Atlanta metro area. That number brought the year-end number to a record shattering 117,107 foreclosure notices published this year.

Barry Bramlett, president of Equity Depot, told the Atlanta Journal Constitution that fewer residential properties were involved in the December notices and that commercial real estate, including hotels, office space and manufacturing sites, are on the rise.

“Maybe we have reached the apex, but it is still unbelievable, in my opinion,” Bramlett said when describing the numbers.

The Obama Administration has promised that homeowners who need help staying in their homes, will get the help through mortgage modifications, but few have seen this help in the year since plans were announced.

Bankruptcy filings continue to climb as people look for any way possible to keep their home and stop foreclosures.




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