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Georgia Not Included in Halt of Foreclosures
Georgia is not included in the more than twenty states where many lenders have been required to halt foreclosures.  Although Bank of America has voluntarily halted foreclosures in all states temporarily, no lenders are required to halt foreclosures in the state of Georgia.  This is because Georgia is a non judicial foreclosure state. 
Because Bank of America is one of the nation's largest lenders, it does hold a significant percentage of the foreclosures in the state of Georgia.  Therefore, if they halt foreclosures for an extended period of time, it could have an effect on the Georgia real estate market.  However, as long as they remain the only lender that is halting foreclosures in our state, our market should not be significantly impacted.  We may have a slightly reduced inventory until Bank of America resumes foreclosures, but ultimately our market will remain largely unaffected.
So, if Georgia is not included, what does this mean for our market? 
We should still see an increase in housing inventory as many more foreclosures are listed on the market in the coming months.  Most experts agree that this will cause home prices to decline, although how much of a decline we can expect is unknown ... more

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