Submitted by Anonymous on Fri, 10/26/2007 - 20:41.
The number of foreclosures in Georgia rises
According to Equity Depot, formerly the Atlanta Foreclosure Report, the number of foreclosures in Georgia has risen substantially. Coweta County's rates are much lower compared to the 13-county metro Atlanta region, though there are notable foreclosures in the area.
So far in 2007, Coweta County has a total of 699 foreclosures. Foreclosure rates in Coweta are recorded as follows: January – 77, February – 83, March – 80, April – 69, May - 63, June – 74, July – 60, August – 90 and September – 73, reports Equity Depot.
On average, foreclosure rates in the metro Atlanta area are significantly higher than rates in Coweta. Last year, Fulton County had the most foreclosures with a total of 11,437. DeKalb County was close behind with 9,327 foreclosures.
This year, foreclosure totals have almost reached last year's rates, even though more than two months remain in the year. Already, Fulton County has 11,294 total foreclosures and DeKalb County has 8,050.
Other current totals in the 13-county metro region: Cobb – 3,952, Gwinnett – 5,733, Clayton – 3,994, Cherokee – 1,145, Douglas – 1,384, Fayette – 608, Henry – 2,190, Rockdale – 968, Forsyth – 611, Bartow – 657 and Hall – 726, according to Equity Depot.
In total, there have been 41,312 foreclosures in the metro Atlanta area for 2007. In Georgia, foreclosures are published for four consecutive weeks prior to sale in the legal organ of the county where property is located. In Coweta, foreclosures are published in The Times-Herald.
The notices include information such as the date, amount of debt, property address, name of borrower, deed book and page of security deed, lender name and attorney information. Foreclosures in Georgia are considered to be non-judicial foreclosures, which do not involve a judge.
For foreclosure purchases at the courthouse steps, would-be investors should be prepared to wait from 10 a.m. to 4 p.m. A person must have cash or a certified check for the full amount of the bid. This type of purchase totally wipes out junior liens. The opening bid includes total debt plus late fees, penalties and attorneys fees, said Gaines.
When properties don't sell at the courthouse, they become REOs, Real Estate Owned. REOs are easy to locate, but represent the fewest number of foreclosure opportunities. They are listed through insurance agents and can be closed with a regular attorney. The properties are regular purchases that are normally purchased "as is."
Source: http://content.times-herald.com/290863359786582.bsp
So far in 2007, Coweta County has a total of 699 foreclosures. Foreclosure rates in Coweta are recorded as follows: January – 77, February – 83, March – 80, April – 69, May - 63, June – 74, July – 60, August – 90 and September – 73, reports Equity Depot.
On average, foreclosure rates in the metro Atlanta area are significantly higher than rates in Coweta. Last year, Fulton County had the most foreclosures with a total of 11,437. DeKalb County was close behind with 9,327 foreclosures.
This year, foreclosure totals have almost reached last year's rates, even though more than two months remain in the year. Already, Fulton County has 11,294 total foreclosures and DeKalb County has 8,050.
Other current totals in the 13-county metro region: Cobb – 3,952, Gwinnett – 5,733, Clayton – 3,994, Cherokee – 1,145, Douglas – 1,384, Fayette – 608, Henry – 2,190, Rockdale – 968, Forsyth – 611, Bartow – 657 and Hall – 726, according to Equity Depot.
In total, there have been 41,312 foreclosures in the metro Atlanta area for 2007. In Georgia, foreclosures are published for four consecutive weeks prior to sale in the legal organ of the county where property is located. In Coweta, foreclosures are published in The Times-Herald.
The notices include information such as the date, amount of debt, property address, name of borrower, deed book and page of security deed, lender name and attorney information. Foreclosures in Georgia are considered to be non-judicial foreclosures, which do not involve a judge.
For foreclosure purchases at the courthouse steps, would-be investors should be prepared to wait from 10 a.m. to 4 p.m. A person must have cash or a certified check for the full amount of the bid. This type of purchase totally wipes out junior liens. The opening bid includes total debt plus late fees, penalties and attorneys fees, said Gaines.
When properties don't sell at the courthouse, they become REOs, Real Estate Owned. REOs are easy to locate, but represent the fewest number of foreclosure opportunities. They are listed through insurance agents and can be closed with a regular attorney. The properties are regular purchases that are normally purchased "as is."
Source: http://content.times-herald.com/290863359786582.bsp
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