Realty Trac released new reports week-ending October 15. Their current report shows Georgia fourth in the nation for foreclosures. Their numbers include default notices, auctions and bank repossessions. Notably, due to missteps by lenders, foreclosure filings have been artificially down during 2011. However, lenders have worked to correct their processing of potential mortgage defaults; and as a result, it is likely we will see an uptick in foreclosures nationwide in coming months.
Currently one in every 121 homes shows a foreclosure filing in Georgia; with one in 89 homes in Metro Atlanta showing a foreclosure filing. Foreclosure notices for October is up 16% compared to September. As a non-judicial state, homes are sold on the court house steps in Georgia the first Tuesday of each month.
Foreclosure rankings for the Metro Atlanta area county by county
(highest to lowest)
1) Gwinnett - 1,889
2) Fulton - 1,632
3) DeKalb - 1,377
4) Cobb - 977
5) Clayton - 750
6) Henry - 527
7) Cherokee - 363
8) Douglas - 315
9) Forsyth - 256
10) Hall - 252
11) Rockdale - 217
12) Bartow - 155
13) Fayette - 135
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