Foreclosure Postings Down For Atlanta Metro

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.


Flooding Likely To Add To Economic Problems

The flooding that we have experienced in the Atlanta area over the last few days will likely have effects for months to come.

Cleaning up after a flood is a long, strenuous process that is likely to take a financial toll on the entire metro area. Lost time at work, missing financial documents, and trying to get by with no insurance in the current economic climate may end up costing Atlanta residents more than they can afford.

If your financial situation was close to the edge, the rising flood waters may have swept you under already. If you need help recovering your financial stability, you should consider filing bankruptcy.

The Georgia Insurance Commissioner has offers some tips on recovering from the flood that are on the Atlanta Journal Constitution’s Web site.

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Filed under: Economic News — Tags: , , , , — admin @ 10:23 am



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