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Foreclosure Notices Soar In Atlanta

Rob — Mon, 08 Feb 2010 21:29:44 +0000

There were 10,357 foreclosure notices published in February for the 13-county Metro Atlanta area, up 27 percent from January and 34 percent from February 2009.

Alpharetta-based Equity Depot released the numbers in a report today, according to a post by Henry Unger in his “The Biz Beat” on the Atlanta Journal Constitution’s Web site.

I guess the brief slowing in January’s numbers was the calm before the continuing of the storm that is devastating neighborhoods across Atlanta.

Foreclosure Postings Down For Atlanta Metro

Rob — Thu, 14 Jan 2010 20:05:55 +0000

The number of homes published this month for the foreclosure sale in February dropped in Metro Atlanta. The 8,181 notices are down 3 percent from notices published in January last year and 21 percent below the number of notices published in December.

The drop was the first in 14 months according to Alpharetta based Equity Depot, a company that tracks foreclosure notices published each month across the country.

Barry Bramlett, president of Equity Depot, told the Atlanta Journal Constitution that he was hesitant to say hat things were turning around until he saw better results from one quarter to the next, not month to month.

A record number of homes were threatened with foreclosure last year and economists expect the problems to get worse before they get better. According to a report published by RealtyTrac Inc, 2.8 million homes were threatened with foreclosure in 2009. The company projects that number could climb to between 3 million and 3.5 million homes this year.

Many homes that might have been pulled from foreclosure lists in efforts by the Federal government and states to help troubled homeowners. But banks have been slow to negotiate mortgage modifications, and have been even slower to make them permanent.

One way to stop foreclosure proceedings on your home is to file bankruptcy. Chapter 13 bankruptcy can give you time to make up arrears and delinquent payments on your mortgage.

Foreclosure Rate Still Climbing in Atlanta Metro

Rob — Mon, 14 Dec 2009 20:01:58 +0000

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.