Monthly foreclosures drop slightly in metro Atlanta

The foreclosure picture in metro Atlanta improved slightly in November. But notices for the year continue at a record pace.

A total of 9,427 foreclosure notices were published in November in a 13-county metro area — down 1.3 percent from October, according to Equity Depot. The notices published this month are for public auctions scheduled for December.

It’s “not unusual for numbers to dip a bit in the last quarter,” Barry Bramlett, president of Equity Depot, wrote in an e-mail. “Not sure if that has to do with holiday season approaching, but a similar pattern to that in years past.”

November’s notices were up 40 percent from the same month last year.

After 11 months of this year, there were 106,766 notices — well above last year’s previous annual record of 79,484, according to Alpharetta-based Equity Depot. (www.equitydepot.net)

In November, Fulton led the pack with 2,072 notices, followed by Gwinnett with 1,924. DeKalb was third with 1,419, followed by Cobb (1,010) and Clayton (712).

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5 comments Add your comment

Voice of Reason

November 13th, 2009
6:46 am

If the Democrats had not established and promoted their liberal home ownership policies, we would not be in the mess we are in today. As unfortunate as it is, we now have to endure the unwinding process, otherwise known as foreclosures and home price deflation.
We need to return this country to the middle of the road policies that have served us well so far. Conservative, Republican, middle of the road policies are the only thing that will save us.

Mary

November 13th, 2009
8:20 am

Wait till the first of the year and watch them go through the roof, ours is scheduled to go there on in January, told us if we came up with money they might consider letting us keep it. We are on our second round of unemployment, first one was nine months, went back for six months and now again. I have been looking for two years–nothing..your are over qualified..Someone BETTER figure out how to get jobs back in America..but I do remember the President’s wife saying during the campaign she was ashamed being American well they are really making us look good to the foreign countries…Wow…

Cynthia

November 13th, 2009
10:24 am

Still over 9,000 or so foreclosures is too many. I agree with Mary’s comment about them going through the roof in the new year. People will overspend during these next month’s for the holidays and then try and play catch up in January. I look forward to President Obama meeting with companies and others to try and stimulate job growth – that’s the only way to get things moving. Thanks for the post!

Voice of Reason is Wrong

November 13th, 2009
10:35 am

No, the reason there are so many foreclosures in Georgia was the final version of the Georgia Fairness in Lending Act in 2003 that was promoted heavily by Governor Purdue. It promoted a huge range of bad practices and, at the same time lessened consumer protection. The results are bank failures all over the state hurting businesses and plenty of foreclosures hurting consumers.
All in all, this single bill pretty much outweighs any other good things Purdue accomplished making him one of the worst Governors in our great state’s history.
You don’t need to look at Washington to find people to blame for this. Just look at the jackals in the Georgia House – the Conservative, Republican, middle of the road fools who made created the perfect storm in Georgia.

simicirckleK

November 13th, 2009
10:57 am

Mary very true. However consider Bush and the greatest housing boom ever. The growth that was needed because of the war. I also really do not feel people should complain for the way they borrow money. You do not educate the people you do business with. That is not common sense to do so. So who’s responsibility is it to discover what to do and what not to do. If you loose your house. You can blame this on no one else. This is true. Because you did not practice what you might call fiscal conservativeness in your own life. It is not right to blame others. For what you did not prepare and look into.