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Learn about the Atlanta Foreclosures activity

Sharon Reed — Wed, 09 Sep 2009 20:44:17 +0000

Atlanta is the capital city of Georgia State. The city has been regarded with having one of the most high rated foreclosure activities in the state and above all in the country too. The Atlanta foreclosures activity has been on a high in the past some time due to the layoffs of the large corporate, poor economic condition, and above all the presence of inexperienced investors in the market.

Although, in the last few months, the Georgia foreclosures activity is continuously floating up and down, but still it is much higher than the previous year’s foreclosure rate. Recent news revealed that the Georgia foreclosure activity increased by 11 percent in May, and in the next month, got down by 15 percent.

There were 10,241 foreclosed properties with filings in May, with an increase of 11 percent as stated above. These stats were still 23 percent above than the numbers announced in May 2007. Although in June, there were 8,714 foreclosed properties in Georgia with a fall of 11 percent, but still it was 21 percent above the level of foreclosure revealed in June 2007.

The Atlanta foreclosure activity is a major part of the whole foreclosure activity taking place in Georgia. Atlanta city is the county seat of Fulton County, and some part of the city is under the DeKalb County. In May, Fulton and DeKalb counties were rated with the first and second highest foreclosure activity in the state with 2,532 and 1,407 foreclosed properties respectively with filing.

In June also, Fulton County led the highest foreclosure activity in Georgia, with DeKalb getting the second spot. Fulton accounted for 1,644 foreclosed properties where as DeKalb accounted for 1,399 foreclosed properties with filing.

In order to improve the present economic conditions, government as well as many foreclosure agents is offering free foreclosure listings that cover homes in various regions of Georgia.

Atlanta Foreclosures: Precaution is better than cure

Sharon Reed — Thu, 07 May 2009 17:24:48 +0000

As per the latest concern shown by government about the mortgage crisis and the foreclosures that are increasing in numbers every day, there will be plans in place to make the repayment a little less. Lenders will also be looking forward to help by the government for the same. However, in order to receive these helps, the first initiative has to be put by the house owner himself to save their property. The count of Atlanta foreclosures is also increasing every day with the number of properties going into foreclosure listings each day.

According to experts:

The best thing to avoid your property from being listed in Foreclosure listings; if you are in the earlier stage of default the best way, is to find a way today. As more time passes, the more difficult it will be for you to come out of it. Because the more the lender spends on recovering the money from you, the more fees will be applied on your account when it comes to foreclosure.

Ways to avoid foreclosure at an early stage:

Precaution is always better than cure, if you do not want to be a victim of getting your property foreclosed, the best method is to find a way out before it becomes difficult or impossible.

Admit you have a problem: The first step is to admit that you have a problem and it will be difficult for you to cope up with your monthly payments, which can be because of loss of income or increase in the interest rate.
Do not avoid the lender: If there is a problem or you have already missed a payment; do not avoid the phone calls from the bank or the letters that they send. Show your intentions to pay and discuss the problem.
Ask for alternatives: Your bank does not want your property to be a part of Atlanta foreclosures. They will help you in all possible ways, like a repayment plan or a loan modification so that you remain current on your mortgage payments.