Metro Atlanta foreclosures skyrocket this month

Foreclosure notices in metro Atlanta jumped 27 percent in February, compared with January. They were up 34 percent when compared to a year ago, according to data just released from Equity Depot.

“Residential foreclosures basically run across the board in every price range,” Barry Bramlett, president of Alpharetta-based Equity Depot, said in an e-mail. “Commercial properties [are] clearly on the rise.”

There were 10,357 foreclosure notices published in February in the 13-county metro area. That compared with 8,181 in January and 7,701 a year ago, Equity Depot said. The notices published this month are for public auctions scheduled in March.

In January, there was short-lived decline, Bramlett said, “probably due to [foreclosure] moratoriums some lenders put in place over the holidays.”

This month, Gwinnett led the pack with 2,163 foreclosure notices, followed by Fulton with 2,008. DeKalb was third (1,511), followed by Cobb (1,243) and Clayton (821).

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202 comments Add your comment

[...] Atlanta foreclosures jump in February [...]


February 8th, 2010
5:57 am

people over spent their budgets and now realized they couldn’t afford the payments, thanks to the banks giving out loans to anyone before the great fall of wall street. people have to be homeless.

wonderful world that we live in now, hopefully we can get more jobs back, everything should come to a stop no more trading with china and exporting our jobs for cheap labor and cheap products.

Usa First.

Maxine Klinger

February 8th, 2010
6:23 am

Some people are so up side down inthe mortgages that it is cheaper to let the bank take it back and buy something else, at the new market price. Bankruptcy does not hold the socail stigma it used to.

Democratic Dope

February 8th, 2010
6:40 am

Don’t worry.
Obama will save us.

Bitter EX democrackkk

February 8th, 2010
6:43 am

Soon, the government will own all the houses and you will have to donate BIG money to the democrackkks to live in a decent home…ShamBama WANTS you to fail, so HE can CONTROL you!

Henry Co. Redneck

February 8th, 2010
6:49 am

Remember, this all happened on the Republican’s watch.

Jim Jr

February 8th, 2010
6:53 am

Will take a while to get over the 8 years of TOTAL IN COMP ETANCE which the current administration inherited.

Jan - anne

February 8th, 2010
7:04 am

Years ago I remember various gov’t administrations chastising the banks for not lending more to sub-prime candidates. Everyone was “entitled” to a house right? Now look what we’ve got.


February 8th, 2010
7:14 am

I want to tell you all a quick story and please excuse my spelling. I had been in the automobile business for over 12 years I got divorced and decided that I needed a change in carrers so I landed a job being a mortage loan officer for the largest company in the US. After going through their training I was asigned desk where the phones rang 24 hours a day. Doing mortages are almost the same as getting some one financed on a car loan just takes a lot longer to gather all the information. We were getting people approved on loans that should have never been approved for a lone in the first place let alone for the amount they were getting approved for. I can look at a persons credit, family size and income and tell you if they are going to beable to pay this loan back on time 90 % of the time . Now if I can do this I know that the big banks should be able to do this and they can but they chose to turn the other way as long as the profits looked great on paper and that’s all it was money on paper. I can not tell you how man people bought homes that never made the first payment number one was because of their income they did not make enough, two was because of their pay history they had shown in the past that they would not pay on time, three these were first time home owners they really did not know what it took to pay for a home. If I could start a new job and look at the loans in one day and know for a fact that these people were not going to pay back these loans then a lot of people above me knew it too. I do feel sorry for most of these people because they will never be able to own their own homes again they are in worse shape now than they were in before they bought their house.


February 8th, 2010
7:27 am

Globalization is stripping our lifestyle out from under us. All of our jobs are either being outsourced or moved to countries that pay essentially nothing to the “Slave labor” used to produce products.

The lifestyle that our grandparents knew is long gone. Home ownership and a good job to provide for our family is a thing of the past.

Globalization will “Level the playing field” which means that yours and my way of life will be reduced so others can live better.

Creating fake jobs will not be the answer only a band-aid for the problem.

Casey Glynn

February 8th, 2010
7:33 am

I can ‘t believe how Obama has screwed up the economy in just the first twelve months of his administration. He needs to learn from his predessor and spread out that incompetence over 8 years!!!


February 8th, 2010
7:38 am

Is it just me or has the current administration lost the bubble? Treasury Secretary Geithner said the mortgage modification program is a great success as late as yesterday. If it’s so great why are all these folks losing their homes? Then again what should we expect out of a person that is unwilling to accept responsibility for their part in the bail out of Lehman Brothers and the advice they received from NY Fed under Geithner’s watch. Of course, this is from a guy who can’t even file his own taxes correctly!

Katz P. Ajamas

February 8th, 2010
7:39 am

The ants are bailing out the grasshoppers again. Government should let businesses fail. If the market is there, new profitable businesses will re[place them. If not, what the hell are we going to do with all these buggy whips. The airlines are a prime example. Had they been allowed to fail, the planes, pilots, mechanics, airports, would not have disappeared. Neither would the demand for air travel. The only difference would be a new more competitive business. Ditto for banks, automobile manufacturers, and every other business endeavour. What’s the current administrations solution? Prop them up so they can provide jobs. It’s a dole system with ‘make work’. Time to buy that farm in Columbia…

Big Al

February 8th, 2010
7:42 am

FYI – The “everyone should be entitled to a home” era was started not in the 8 yr W administration but the previous 8 yr Slick Willy admin…….

Big Al is correct

February 8th, 2010
7:49 am

It started in the mid to late 90’s…The goal was to increase home ownership in this country. Kennedy and other Hi Ranking Dems were leading the charge…aS WITH ANYTHING BACKED BY THE gOV’T, IT TAKES MANY YRS TO SEE THE RESULTS

DAVID: AJC Truth Detector

February 8th, 2010
7:56 am

HEY….the once great Atlanta-Obama-Journal pushed…promoted,,,pressured banks into NINJA loans…THE liberal MEDIA shares a good deal of the blame…


February 8th, 2010
8:01 am

Some of you posters are incredibly naive and insensitive. The ones who overspent lost their homes months ago; the ones losing their homes now are the ones who lost JOBS due to the economy, and did not overspend. I hate to break it to you know-it-alls, but unemployment will NOT pay most mortgages.

For example, we bought a house in Coweta that was only 2x our annual AGI, a simple 3BR/2BA home, when we found out I was pregnant. I got laid off my last day of maternity leave, my husband was laid off 3 months later. Our lender was Taylor Bean, and we were sold to B of A after the fed raid.

We called B of A to do a workout, and they told us to go screw ourselves. Funny how a bailout makes a bank feel entitled. The foreclosure sale on our house is in March.

Stop being a bunch of self-righteous, insensitive jerks if you’re lucky enough to still have a job and a house. We’ve been looking for 6 months, and there’s nothing out there. I’m competing with 22 year olds without a degree or work experience for receptionist jobs to replace my paralegal position, and it’s demoralizing enough. I went through the recession in the 90s during Bush Sr.’s watch, and I cannot believe I’m going through this again at 40 with a baby.

charles corley

February 8th, 2010
8:05 am

Good ole Ronnie r. ,the working man’s friend, took away the deduction for interest on consumer loans in 1986 and gave us the equity loan which started this mess..Consumer loans included credit cards,,car loans, bank loans, and etc. For this reason who cared about interest rates because interest was like cash at tax time.,

Mike Jones

February 8th, 2010
8:10 am

The economy is “not” going to improve. This country owes to much in debt.. (almost 50 Trillion). Technogy and world globalization will make it tough to manufacture (at a profit) anything in this country. What does this mean.? It means your will no longer make $40,000 a year to build furniture or make carpet. The basic fundamentals that got us into the mess (entitlement spending, goverment borrowing, people borrowing and spending more money than they make etc…)have not changed. We are just doing the same thing we were doing before the crash, but we now expect different results…Something else that will not help. Obama as president…. He actually thinks you can spend your way out of the recession. The Main Stream Media will report anything he say’s or does as the “gospel truth”… this is indeed a dangerous scenario.

Steve Sperling

February 8th, 2010
8:12 am

Most of these people shouldn’t have purchased their homes utilizing these crazy interest only loans. If you can’t afford your house with a 30 year fixed loan, then you shouldn’t have bought it. If you didn’t understand the specifics of your loan, you shouldn’t have proceeded until you understood what you were getting into.


February 8th, 2010
8:15 am

Ben Dover has it correct. You folks who fight demcrack vs repiglicons are dumber than a box of rocks. Neither party represents you fools!

Spanky Spankmeyer

February 8th, 2010
8:15 am

Hey Bunni…pull my finger.

I see all the whiners and losers are wetting themselves this morning…!


February 8th, 2010
8:16 am

It really doesn’t matter who was in office. Regan, Clinton, daddy Bush,son Bush, or Obama. People bought homes that they knew from the very beginning they couldn’t afford. When you go to a store, you go in knowing how much you cash you have to spend. If you have $100, why would go to the counter with items that total $110. You wouldn’t, you spend what you have unless you enjoy standing at the register looking stupid. Now WE all have to pay the price for mistakes that were made by other people.


February 8th, 2010
8:18 am

@ Charles Corley…You hit the nail on the head. I thought everybody had forgotten about that law that was passed then and has been hurting us ever since.


February 8th, 2010
8:22 am

now that some of the dems are finally beginning to see the light, maybe you can join the rest of us and vote “NO-bama” next election. thanks for nothing!!!!


February 8th, 2010
8:24 am

Hey Dummy Repubs — the deregulation that occurred during W’s reign that allowed for the advent of “AAA” bonds that were backed with bad credit, no income loans (a.k.a. subprime) is just as much if not more to blame for our current mortgage mess than the CRA and enforcement thereof during the Clinton Adminsration. At least the govy-backed loans required you document your income and had reasonable terms (low rates, no mortgage insurance, 30 year term). Subprime has always been the worst of the worst (2 or 3 yr ARMs, usuerous interest rates, etc.) Pull you heads out of your behinds and stop blaming our problems on Democrats — the Repubs greed contributed to this mess too!


February 8th, 2010
8:28 am

This is not a political problem as much is it is an economic problem. We have been outsourcing our production jobs for over 35 years in order lower the cost of product and control inflation and have relied on construction to replace the production jobs that went oversees. This meant that building new homes was an essential component to putting people back to work. As you know, construction doesn’t pay enough to qualify for a home loan so the banks had to get constructive in home loans in order to sell all the homes being built trying to keep the job market alive so loans with arms were built. Banks loan money to builders to build the homes that keep the economy moving and then transfer the loan from the builder to the construction worker so the builder can continue to build more homes. Fundamental problem, Blue collar workers can’t afford new homes. Construction is not the answer to job creation for outsourcing production problems!!! We need a comprehensive production plan to rebuild production job loss. Service jobs are not the answer ether because once you have fixed everything to a point you run out of work also. This is a case of working your self out of a job.

Native Southerner

February 8th, 2010
8:29 am

To Maxine Klinger who stated (and to others who hold the opinion) that “Bankruptcy does not hold the socail stigma it used to”: Have you been interviewed for a job recently? Last week, a job-hunting relative signed permission for a background check. She explained the circumstances of a poor credit rating that HR would surely discover and was told not to worry about it “as long as there is no bankruptcy”.

Spanky Spankmeyer

February 8th, 2010
8:35 am

With O-Butt-Munch in charge is will only get worse.


February 8th, 2010
8:47 am

Not once in any article in here did anyone mention corruption in political circles.These are the ones you need to go after for change,no more “career politicians”,support your local tea parties to voice your opinions to be heard.Example-net worth of Governor Purdue before office?now look at his net worth after office?what do you think?Example-The Clintons.Does it matter what party? They play the same game with your tax money.WAKE UP PEOPLE! Regulate politicians ,no more behind closed door policies!!!!!!!!!!


February 8th, 2010
8:50 am

yes this makes sense in numbers as 11 out of 250 units at my condos in the last year have foreclosed
which is 4% so we are better than the average so sad


February 8th, 2010
8:51 am

also condos have to take a hit to HOA dues also which really hurts all owners in that condo complex and 2009 alone we saw over $40K in defaults on dues owed

Average Joe

February 8th, 2010
8:58 am

Congrats to Mike Jones at 8:10,he is on target, the economy will not improve for several years, it won’t matter who is in the White House. Americans have come to “expect” a new car, a bigger house all the while not saving or investing any or very little money for the future. The marketing of products or brands is like no other place on earth, most of which are related to image and social standing. However, purchases and debt spending kept the country on life support for over the last decade. With no more credit or equity lines available, the economy died. At least for the short term, most people will have to get by with less. Also, as college has become the new must have education to get a higher paying job, students are starting life with in some cases 100k plus in student debt or more.

Time and the free market will correct the issues that the banks and government created, only if government spending is limited and people begin to exercise personal financial responsibility.

So, get use to more of the same. Make a change you can believe in, vote out ALL incumbents.


February 8th, 2010
9:00 am


Sounds like you did not have any other investments and were living paycheck to paycheck. Maybe you should have just rented and let someone else who was more financially astute manage those worries about monthly bills.

Michael Stacio

February 8th, 2010
9:02 am

This crisis was brought on by banks lending to people who did not qualify for a mortgage in the first place. Minorites were crying racism and “red lining” banks gave mortgages with 2 or 3% down or no money at all, just move in we will give you a low rate and a ballon it later on.
Now the same people that cried racism are now crying the banks took advantage of them.

Fed up

February 8th, 2010
9:07 am

First of all the recession started when the Dems took over Cogress and the Republicans could get nothing done.
Second Banking deregulation was Mr. Clinton’s baby.
Third there is plenty of blame to go around.
Forth and most important, we need people in office that are more concened about this country than they are about lining their own pockets.


February 8th, 2010
9:09 am

Not everyone was living outside their means or in a McMansion with a sub-prime loan. Some of us (me for example) lost our job at the beginning of last year. During the 3 months I was unemployed the wife’s job cut her hours to part time. I finally found one making 20% less after 127 applications (just 4 interviews) and a week after I got hired, the wife lost hers. She has been out for 8 months now. We lost 55% of our gross income compared to last this time. We have eaten through our savings (we had 3 months living saved up for emergencies), and whatever we had in our 401k was destroyed by 72%. We pulled out what was left under a hardship.
@Bunnie: I feel your pain. We are filing for chapter 7 today and will be losing the house. It is underwater by 35k so there is no equity.

Up and Down

February 8th, 2010
9:11 am

It’s Clinton’s fault (Bill, not Hillary). Bush inherited Clinton’s mess. Obama is a one-term president. These are facts.


February 8th, 2010
9:15 am

Protectionism never sounded so good until now. President O-crap needs to decrease corporate tax and slap some hefty tariffs on cheap foreign goods that flooded the American market and killing all the businesses in the US. I do realized that American companies are moving overseas because the labor is cheaper, but for us suckers that live here that have no jobs and no money to spend, what good is it to have cheap products and no dineros to buy it with!

zee's mama

February 8th, 2010
9:17 am

All of this criticism is so unfair when we have a 10% unemployment rate. I have friends that have advanced degrees who have been looking for jobs for months. All of you crtical peolple should think about what you would do if you were out of work for 6 months or more! Could you still pay the mortgage??? You should have more compassion for people who are suffering through no fault of their own. Everything is NOT about Obama. Now have some tea and relax.


February 8th, 2010
9:18 am

You can’t blame companies for going overseas for labor when our government here taxes them to death and tries to “regulate” everything they do. Why would a company stay in America? The workers here are spoiled and labor unions have ruined the American workforce. A company cannot make a profit while paying a worker with a high school education $80 per hour (just look at GM, Northwest Airlines, etc.) In a foreign country people will work for 12 hours a day with little pay and no benefits. Its a shame that we have let unions and big government ruin our workforce.


February 8th, 2010
9:21 am

Misleading headline. A foreclosure notice does not equal a foreclosure. These are four week notices, and a lot of them get pulled before the actual foreclosure date. They never end up as actual foreclosures. And a number of these are commercial properties, usually vacant.

why try

February 8th, 2010
9:23 am

Take it back? So when exactly did the mortgage own the house that you now say they will take back?

What a lame way to put the fact that a homeowner cannot honor their obligations.

Oh, and the reason we that bankruptcies do not hold the social sigma they once did is due to that lack of honor.


February 8th, 2010
9:23 am

According President O’craps, anyone that makes over $250 K a year is now the enemy of the State. No matter how you get to where you are and what sacrifices you made during college and post graduate school, you are just now a pawn in President O-craps game of class warfare. Never have I seen such a divisive administration.. Every time Obama has a short coming, he either try to blame it on Bush. Some one needs to remind President Bolshevik that he wanted the job and no one forcing him to run for President! It is time to step up and quit his whining!

It IS Clinton's fault

February 8th, 2010
9:23 am

During the Clinton years the government REQUIRED banks to give subprime loans to poor people and minorities. They wanted everyone to be able to achieve the “dream” of home ownership. Everyone wants to blame the banks but they were forced into it. You can’t blame a bank. People need to have some personal responsibility. That said, there are definitely SOME people who could not help losing their homes due to job losses, etc. But MOST of the people were in over their heads from the very beginning. My spouse and I both work and we bought a house that we can easily afford on one income. Its called personal responsibility…but why be responsible? The government will just bail you out if you’re not. This is the “American Way.”


February 8th, 2010
9:24 am

Average Joe is the only person on this board (including myself) with a dang lick of sense! The answer lies with YOU, not someone else. The machine that is government is too big, too powerful and too entrenched for us to change at this point in history. Short of another revolution, we are all reduced to tax-paying or benefit receiving jerks. The only thing you can change at this point is you. And yes, I absolutely, positively do mean YOU. Stop looking around for the next ‘hope and change’, cause it doesn’t exist in either party.

Change the way you think now. Change your spending habits. Change your saving habits. Change your need for social acceptance and change how you raise your children. And yes, change who you vote for. Get ‘em all out.

Reform tax codes to fairness and simple structure.
Reform tort.
Demand term limits now.
Demand state’s rights now.
Demand a quality basic education (and remove the criminals from grade 1 – 12).

Change yourself, and the world will change for you.

Say it aint so

February 8th, 2010
9:30 am

Ya know, I cant believe some of you are still fighting over this subject. McCain and Bush both went to the congress 2 years ago to stop Freddy and Fannie from doing just what they did. But your democratic house and senate would have nothing to do with stopping this. They all cried that there was nothing wrong with Freddie and Fannie and shut the door in the face of McCain and Bush. Its all on record, go look it up. McCain told all of them in his speach that this would happen. The fact is the dumcratics have been running this country now for 2 years and it has gotten so bad that this is what you get with 1 year of a democratic president and three years of democratic control in the house and senate. Stop complaining about it because you voted them into office. You dont like it then go and vote them out of office. You get what you asked for, its just that you could not read between the lines.

White Boy

February 8th, 2010
9:37 am

People that are A-holes here are A-holes everywhere everyday. They just gain the advantage of hiding behind a blog here! This is how they feel important! Carry on brave cowards!!! When I have more time, we can have fun later!


February 8th, 2010
9:42 am

Let’s not forget too that not that long ago, the thinking was that housing prices were always going to go up and up and up. That it was about the most reliable rock solid investment you could make, and that if you could somehow get into a house, even by hook or crook. People were told they were idiots NOT to get into some sort/any sort of mortgage.I got into my home on a 3 year locked ARM. So once I got in, I spent two years polishing my credit score then refinanced to a 30 year traditional at an even lower locked rate. I thought it odd at the time though that when I asked the mortgage lawyer “you guys must be seeing a lot fo these ARM to traditional refinances” and surprisingly enough, they said they were seeing almost none, and they couldn’t figure it out.

Also, people, let’s not turn every single issue and bit of bad news into a political punching bag, alot of these comments are just cheap shots that have nothing to do with the topic. We’re talking about real people here, suffering some real hurt. Sure in hind sight we should have all have known better, but most people were making the best decision they could at the time, based on what we were all being told.

Plus, as pointed out, most of the worst loans have long since defaulted, we are indeed seeing the second wave of foreclosures based on livin in hard times, living in the worst recession since the Great Depression. Let’s have a little compassion, and quit the demogoddery and demand some real concrete policy-based solutions.

It's going to get worse!

February 8th, 2010
9:43 am

When we lose our jobs we can’t pay mortgages!