Metro Atlanta foreclosures set monthly and annual records

Foreclosure notices in metro Atlanta soared to new heights in November, setting monthly and annual records, according to data released Monday by Equity Depot.

A total of 13,834 foreclosure notices were published in the 13-county metro area in November, Equity Depot said. The previous record of 13,130 was set in August.

Also, with one month of the year left to go, the annual record already has been shattered. A total of 117,437 notices were published during the first 11 months of the year, topping last year’s 12-month record of 117,107, Equity Depot said.

Foreclosure notices published this month are for auctions on the courthouses steps set for next month.

Nine of the 13 metro counties posted individual monthly records — Bartow, Clayton, Cobb, Dekalb, Fayette, Fulton, Gwinnett, Henry and Rockdale, Equity Depot said.

November notices were 24 percent higher than in October and 47 percent greater than a year ago, according to Equity Depot.

Barry Bramlett, president of Equity Depot, said he was “not sure if last month’s moratorium by Bank of America and others had anything to do with this month’s numbers.” Some major lenders had temporarily halted foreclosures to deal with flawed paperwork on some of their documents.

Gwinnett posted the most notices in November with 2,924. Fulton was second with 2,557, followed by DeKalb with 2,114. Cobb came in fourth with 1,656, followed by Clayton with 1,252.

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95 comments Add your comment

Billy Howard

November 15th, 2010
5:18 am

What a terrible headline. This is exactly the thing that is fueling this economy and scaring people for pouring money into it. The media takes something and twists it around to make the headlines look great.. Good job AJC…..why couldn’t you have slipped the “notices” in the headline????

whew

November 15th, 2010
5:49 am

Thank goodness the “good guys” are back in power. I was getting worried about the middle class there for awhile.

PW

November 15th, 2010
6:04 am

You’d better worry about the guys coming in to power unless you are rich believe me!

TH

November 15th, 2010
6:11 am

Billy: This is reality, like it or not. There is too much sugar coating going on. We need to know that things are bad and not improving in order for people to make tough choices that hopefully will help them in the long run. Too many people are sitting back hoping that things will be better soon so they will be bailed out. Not going to happen for the next 5 years. We need to face the facts, deal with reality and all make smart decisions.

whew: The good guys are not in power. Have you checked who occupies the white house? All that the latest power shift will do is stop the democrats from being in total control and passing every tax increasing policy they can think of. This was great that the republications took back the house, but don’t expect any major improvement until we can get some real leadership and remove Obama.

art

November 15th, 2010
6:18 am

This is a symptom of the “buy now, pay later” mentality of western-style economies with the US in the lead. People fail to realize that they don’t own anything when they get a mortgage, the underwriter does. The borrower is exactly that: an indentured servant. Why can’t people just pay with cash? Because, as George Bailey said in “It’s a Wonderful Life”, they would never have a house. Boo hoo. They still don’t. HaHaHaHa.

Tony

November 15th, 2010
6:28 am

TH, since you think that being republican is the solve here, please explain how the republicans have proposed to fix this issue? The problem with this country is that everything is a “black” or “white” issue and/or a “republican” or “democratic” issue. What’s going on is an American issue and no one has the answer right now. So, if you think bc the republicans have taken the house is going to make this country better, you are a joke!

Willis

November 15th, 2010
6:37 am

The Repubnik strategy is already clear: we need to get rid of Obama so we can totally destroy the economy. We can’t get it done with him still in office.

Bug

November 15th, 2010
6:44 am

Term limits for every elected office in America. Eliminate entitlements. Come on third party. Pray for America and God Bless The Tea Party.

AJC, Lester said it best,”The Atlanta Fish Wraper.”

Paul

November 15th, 2010
6:50 am

Suggest that everyone see the movie “Inside Job”. Once upon a time the company that you got your mortgage from was the one that you paid off. Then that business was deregulated.

TH

November 15th, 2010
6:59 am

Tony: I don’t think that republicans are necessarily any cure all. I was not happy with many things that went on in the past “prior to Obama” However, very little of what has been done since makes any good sense. Just about every “stimulus” has been a failure. Nothing more that a short term bandaid with a hangover later. We all need to understand that we can’t fix this mess over night and mast of the stimulus Obama policies seem to be targeted at some type of quick fix and plan to prevent some crisis. We need to slow down with knee jerk policies and begin to do things for the long term. There will be pain in the short term, but that is inevitable. More than likely some balance of power hopefully will produce this result.

sansho1

November 15th, 2010
7:23 am

TH, GM and most of the financial institutions who received funds have paid them back, having weathered the worst of the storm thanks to governmental involvement. And your taxes have gone down during Obama. These are facts.

lreeves

November 15th, 2010
7:26 am

Please do not blame the current President for this situation at least he attempted to help people. Look what GA. voter did in this election with the Gov.. While people was trying to get jobs,take care of there families the Gov was lining up his pockets for his family. ONE CROOK IN AND ANOTHER ONE COMING

Nana

November 15th, 2010
7:31 am

Willis, Dumbama is doing a fine job of destroying the economy and we don’t need the Republicans to help out. If he could keep his arrogant, self-righteous self in this country and stop trying to buy other countries’ approval, maybe something could be done but then again, probably not. It’s ashamed he has to ask for foreigners approval of him since he can’t get it in the good ole USA. Impeachment would be too easy for him – he needs to be brought up on charges of violation of the Constitution – if you don’t believe that one, just read it. He has broken just about every law of that document and we, the people, just stand by and let him do it. I’m not sure who was elected 2 weeks ago will do any better – we have the younger crew who want to do right but the old guard is still there to influence and sway their thinking – shoot, they don’t want to lose their huge salary, great medical benefits, and their same retirement pay. Wish I could have retired on what I made for 20+ years of working. Oh and by the way, does anybody know if Pelosi is going to be allowed to keep that jet we pay for? Hopefully, she will have to take Delta which will probably have to stop for fuel one time on the way to CA. Maybe she needs to “e-bay that private jet” and give us our money back.

sansho1

November 15th, 2010
7:33 am

Nana, sorry, but you are whacked out. That is some seriously unhinged stuff.

TH

November 15th, 2010
7:37 am

sansho1: Great facts! lol

Lynn

November 15th, 2010
7:46 am

Is there something wrong with the economy?? Guys, haven’t you been watching the news?? The Obama Administration has already ANNOUNCED that the recession ended LAST NOVEMBER! That’s right folks November, 2009.
True Story. Hope you’re enjoying “The Change” as much as I am.

Straight Talk

November 15th, 2010
7:48 am

Of course, as Obama continually informs us, all of our problems are George Bush’s fault…and Obama has no responsibiltiy for the problems we face. How long are American people – and voters – going to buy this stuff before they wake up and smell the coffee?

Anon

November 15th, 2010
7:49 am

Biased much?

Since when is a 0.3% increase “shattered”? Really?

The Truth

November 15th, 2010
7:52 am

TH & Willis, your views are the exact reason as to why other countries see the US as a divided country, in which we are. Do you really think President Obama is the cause of the housing problem? If so you are out of touch with reality. Both of you probably earn less than $250k & benefit the most from President Obama being in office. Did you forget that Bush allowed all of this to occur with no lending regulations and alternative financing options? Did you forget that unemployment was @ 11% when Bush left office? Did you forget that the Conservatives are the LENDERS that raped our middle class with bias financing with higher rates & excessive fees. Did you forget that our 401k’s depleted & the market crashing to an all time low since the Great Depression was under Bush? So how do you expect all of this to turn around in 2 years when Bush had 8 years to bury us? We must stop the seperation in our country and ban together for once to overcome this problem. If not, then both of your homes will be added to the increasing forclosure list in the next quarter because both of you will hender progress for the sake of going against the current administration. Even if his plans help your family, you sound as if you would still be unsupportive! Look in the mirror and ask yourself am I real acting like an AMERICAN?

Bunnie

November 15th, 2010
7:52 am

Newsflash: banks have zero incentive to help struggling homeowners since they, Freddie Mac and Fannie Mae were bailed out with our taxpayer dollars. Hell, they make a profit every time they sell a home for pennies on the dollar. The Making Homes Affordable program only added fuel to the fire. Sure, if you can even get a mod, they’ll come back a few months later and take your home anyway, saying that there was nothing that could be done to help “those” people. “Those” people being the ones that had no power to stop billions of their taxpayer dollars to bolster the cushy salaries and lifestyles of bank CEOs. That’s the real crime.

Lynn

November 15th, 2010
7:54 am

“Shattered” , yes really. If it had included YOUR home, you’d probably understand. One home for eclosed on is one TOO MANY. Go do somemore math.

Bunnie

November 15th, 2010
7:55 am

PS – while everyone is arguing black and white, all that matters is green. Liberal and conservative mean nothing anyways; the government has been bought and paid for by the same corporations that received such generous bailouts. Not that banks were ever really in danger of going under.

PR

November 15th, 2010
7:56 am

The American citizens are responsible for the downfall of our economy, especially here in the South.
First, everyone’s love affair with wanting to move South has crippled our RE market. Next, people demanding loans based on Clinton’s promise that everyone should be able to own a home. Finally, giving some of these deadbeats a second chance at modification when there was no way they had any intent on paying back the loan.

I could of easily gotten one of these loans but I didn’t, neither did alot of people. The people that demanded no money down and interest free loans or they’d sue the banks for discrimination are the main culprit. In addition, people never bother to save enough money for job losses, etc. Our country is addicted to borrowing money and not paying it back! Most of the banks have paid their money back to the government!

Stop blaming the rich and powereful for your problems. The people had the power to say NO to what was offered but they didn’t.

Many of these deadbeats should be in debtors prison! These articles give people another excuse not to pay there money back, they feel like they are untouchable. Unfortunately, they are probably right. The rest of us will continue to pay for their stupid mistakes.

Economics

November 15th, 2010
7:56 am

Get used to a new way of life America, 9% unemployments, High Foreclosures, No Credit, the Haves and the Have Nots.

Rod

November 15th, 2010
7:59 am

I’m waiting for the jobs to fall out of the sky now that Repubs are in has anyone been hired yet lol tell me when you are I’ll be waiting maybe I’ll go to the port and see if I can work for Perdue’s company I hear he will be hiring at the port after he steps down from Gov!

Kat

November 15th, 2010
7:59 am

Obama is doing NOTHING to help the situation. His mere presence in office and Democratic controlled Congress has nearly killed any hope of a better recovery. These policies were not Bush’s, they are owned by Clinton.

Lynn

November 15th, 2010
8:00 am

Every Bank Officer in America who has received a “Bonus” in the past 2 years ,who works for a bank that received bailout money , should be forced to repay it. I understand that the FDIC is taking a firmer stance on suing bank execs of the failed banks……finally.

Common Sense

November 15th, 2010
8:02 am

Lynn, yes i enjoy it everyday. Its funny how repubs are already saying they didn`t elect anyone much better. Great job! Enjoy that bridge they sold you.

The Truth

November 15th, 2010
8:02 am

Lets not make this a Black & White issue like several of these bloggers are attempting to do. This is a financial issue that has affected all colors. To turn the foreclosure problem on the current administration, and primarily the president is just foolish. You can tell by the derogatory, personal comments that many bloggers have some personal issues to deal with. The current administration invites the Republican input but they never offer solutions, only negativity to stop growth. At some point you have to move on without the baggage and make things happen. So this year all they did was whine from the sidelines as the current administration worked on “real solutions”.

Bmak

November 15th, 2010
8:03 am

The only “change” I see is what is now in my pocket to replace what used to be dollar bills. I guess I should just be happy for that “change” and be glad its not empty. However, I did catch a democrat in my house cutting holes in my pockets to get the last of my “change”.

NeNe

November 15th, 2010
8:08 am

W was the one that started this – after 9-11 he was on the band wagon that we need to return to core values, homeownership was an integral part of that. He and Twinkle Toes Barney Frank led the charge to make money available to anyone. Frank took care of the “people” side – W took care of deregulating everything on the “business” side – and this is why we’re where we are.

Toss in that no one will touch the continued fraud in Atlanta or other metro areas – totally black and white – and the problem isn’t going away.

Hey – food for thought for all the victims out there – The Jews were incinterated less than a hundred years ago, don’t hear whining….The Japanese Americans were interned and strip of everything during WW II, don’t hear whining. Neither group has been fawned over like the blacks yet each has flourished – why?

Just say heyin’ Gotta go, think the repo man is grabbin ma ‘rover!

Bmak

November 15th, 2010
8:15 am

IMO…politicians get elected based on their promises…after they are in, it is easy to blame the other party for not being able to honor those promises. I think it is time to boot them all out. To often we hear about these folks in both parties getting investigated for shady deals. We should never have allowed them to stay in these positions for so long. The temptation to do the wrong thing is too great. If the position of President is limited to two terms, then all elected offices should be the same. Maybe if they knew that they had to go back and live under the laws that they create when their time is up, they would change their thinking and be more interested in doing what is right for the country and not what is right for their wallets.

TnGelding

November 15th, 2010
8:22 am

Wonder how many were actually foreclosed? Just more opportuities for the wealthy among us to own more property. This unprecedented problem should have been stopped un its tracks by Bush and Obama right after the election in 2008.

hellinahandbasket

November 15th, 2010
8:25 am

to comment on a few in one place…

really, obama isn’t to blame. bush may have made a few bailouts based on the advice of barney frank & company but obama took bail out to a whole new level! he is more responsible for tanking our current economy than anyone else.ironic too that some of you like to point out ‘rich republicans’ but you don’t mention, pelosi, reid, kerry, frank and a multitude of other democrats who are much more wealthy than any republican.

and for the first post…IT’S NOT THE HEADLINES THAT ARE THE PROBLEM IT’S THE ECONOMY, STUPID ! hiding or downplaying the enormity of our problems is not going to make them go away or better. its time to face it and unlike the current administration who is doing nothing but deflecting by bullying through ‘healthcare’ (what a joke) and other equally ‘feel good, do no good’ laws. i think the people made it clear and voted the only way they could (for the lesser of the evils) to send a clear message to all politicians rep or dem and they better have gotten it loud and clear…WE’VE HAD ENOUGH !

hellinahandbasket

November 15th, 2010
8:26 am

you only speak ‘the truth’ from a deluded mind…really you believe that clap-trap?! no wonder we’re in dire straits.

EagleNationRising

November 15th, 2010
8:31 am

NeNe: I strongly encourage you to read about derivative laws passed under the Clinton administration, which allowed banks and insurance companies to play poker with money invested. I highly encourage you to read who deregulated banks. I can assure you that the source will not be George W. Bush.

To all: I am lost as to how it is the responsibility of any US President when a person defaults on a loan given to them. The overriding aspect of our nation is that the government, particularly the Federal government does not intervene in our personal affairs. I do not know any act that is more personal that buying a home.

HOMEOWNERS are completely responsible for their own foreclosures. To point the finger at former Presidents or the current President is absolutely absurd! If black people are disproportionately affected by the foreclosure rates, this points to an issue within the black community. Again, no one forced us (African-Americans) to buy toxic loans. I can clearly remember my home loan and my parents demanding that I get a fixed rate. The banks were telling me something else. I took the time to review the pros and cons for myself.

I do not buy the argument that people were unable to make heads or tails of the games played by banks. We are not talking about illiterate people. I bought a 1 BR condo at a fixed rate with a shorter loan. The President at the time was George W. Bush. Frankly, the guy never factored into my decision process. This falls on the individual.

The problem that I have is former President Clinton allowing derivative laws and regulations to weaken among banks and insurance. The problem that I have with former President George W. Bush is that he signed the repeal of the Glass-Steagall which Congress supported overwhelmingly, i.e. Iraq and Afghan Wars. Bush then handed over tax-payer money for our corporate welfare state, i.e. banks. The problem that I have with President Barack Obama is he has handed over more money to businesses and banks than any President in US history. He is a big part of the problem, as well. In the meantime, unemployment is off of the charts (much higher than under Bush). In real unemployment, almost 1 in 4 Blacks are out of work. This guy is borderline clueless and makes decisions based upon polling. He has not fulfilled his campaign promises (i.e. a repeal of NAFTA, which would create more US jobs than anything else).

Foreclosures are about people unable to maintain their responsibilities to their lender. It has nothing to do with a sitting or former President. End of story! People should have the accountibility to say that they bought too much home. It is not any Presidents fault. We can point to the Presidents on plenty, i.e. useless wars, wasteful spending, the shrinking Middle class. However, foreclosures fall on the individuals. It is not black and white…Dem or Republican. It is those how are responsible and those who are not.

Skip

November 15th, 2010
8:33 am

There are two problems with American and it’s not black or white, it’s JOBS & HOUSING. We can keep blaming the President (BTW who does not create jobs) for these problems or we can look at the real guilty problem….Outsourcing. At the end of the 20th century, we had this great invention called “Globalization.” It increased corporate profit and cut cost by ….that’s right, outsourcing. Now, we’re paying the price for the lost of so many jobs due to globalization. Your job (and mine) are tied to our ability to pay for the increases we saw in the housing market as well. As jobs went East, the housing market went South. Solve outsourcing and you solve the problem to the American economy. We need moderates from both sides, coupled with Independents who are willing to compromise. The answer is not to spend it all, or saving it all. There will have to be a balance. And BTW, if Republicans enter office and spend an hour trying to repeal the Healthcare Plan, Obama will win a second term! (mark my word) If they come in and solve the American Job problems, they will be come heros. It’s that simple. People vote with their pockets. Fix their pockets, you fix their housing problem(s).

JoeDon

November 15th, 2010
8:34 am

3 culprits, plain and simple: 1) The federal government for legislating that lending companies relax traditional loan qualification/approval requirements so that more (read unqualified) people could own a home; 2) unscrupulous loan companies/officers who peddled worthless mortgage products; 3) homebuyers who failed to understand what they were signing up for and in many instances knew that there was no way they could afford the houses they were buying.

NeNe

November 15th, 2010
8:36 am

I’m going to repeat what eagle nation said to Mr. Trump this week in the board room. You know I’m single now sweetie :)

Big Al

November 15th, 2010
8:38 am

Nobody ever wants to say this, but wonder how many of these forclosures could have been avoided if people had not bought houses they could not afford.

NeNe

November 15th, 2010
8:38 am

Skippy darling – should we look at the union influence? They are the cancer that forced outsourcing. Instead of being rational, it’s always all or nothing – so take nothing and whine…..

The NEW Detroit

November 15th, 2010
8:54 am

I bought a house 3 years ago at the peak of housing sales and pricing in a “transitional” neighborhood and have seen what was once a promising place to live turn into Detroit.

The city and private investors made a concerted effort to rebuild Atlanta, but until education and employment issues are addressed it’s going to get worse. There’s a HUGE division between blacks and whites AND it must change or everyone will be losers.

Chris

November 15th, 2010
8:54 am

To reiterate what Eagle was saying, this all started in 1993 when President Clinton asked for reform of the Community Reinvestment Act(CRA bill). The Average Joe may remember his famous tag line ” owning a home is not a privelage, it is a right”. This act greatly loosened guidelines and opened the door for little to no documentation loans and new creative financing. The foreclosures are so high because many of the people who purchased homes bought based on payment instead of need. Those payments then adjusted and they could no loner make the payment. To compound the issue, many of these owners could no longer requalify for refinance of the home they already own. Until we go back to the days of 20% down on a home, this will never be corrected. To many people view their home as a rental or ATM, not there number one investment.

Andy in Blairsville

November 15th, 2010
8:55 am

Real unemployment is 17+%, 41+ MILLION people on food stamps, over 1 million foreclosures nationwide this year AND 7+ MILLION homes are 90 days or more behind right now and in need of foreclosure. Not to mention the banks have a ton of foreclosed inventory they are withholding from the market to keep foreclosure prices up somewhat.

If you don’t think the typical metro ATL home isn’t going to drop ANOTHER 20-40% in value, I have this really cool bridge I’d like to sell you.

This is a 10-20 year “event” and you can take that to the bank.

FASHOW1

November 15th, 2010
9:01 am

Americas economy was set up to fail years ago, what your seeing now are results. Over priced student loans,inflated home values, war in Iraq, war in Mexico,over priced commodities,flucuating oil prices,uninsured health care. All I can say is consolidate and hold on to your pockets because this will be a long and frustraiting term, owning a home will be a burden once taxes increase. Don’t invest in gold it will soon be worthless just like home values and the dollar, Wall Street Stock Brokers don’t have a care in the world about a middle or lower class they’ll start investing in more prisons for the less fortunate who won’t survive this countries strategic failure. Vote S. Mosby for the people.

Jim

November 15th, 2010
9:10 am

The Dumacrats have f—ed this thing up big time and now just like the Jimmy Carter days we have to clean it all up.

Corley

November 15th, 2010
9:10 am

Bill Clinton was responsible for NAFTA and Ronnie R. started it all when he took away our deduction for consumer loans (credit cards,car loans and etc) in 1986 and gave us the equity loan which made a piggy bank out of our houses. Tax deductions are like cash $$$ at tax time. Good ole Ronnie. He was a lousy actor and worse predident…

EagleNationRising

November 15th, 2010
9:13 am

Andy in Blairsville: Does it not seem as though homes we obviously overvalued? I was raised in Warner Robins, GA. I went to school here in Atlanta and graduate school in Nashville. After earning my MBA, I moved to Washington DC before moving back to Atlanta (Georgia is home). The value of homes within the city limits of Washington DC were so high, that it became obvious that they were overvalued. I live in Midtown and work in Buckhead. I work in the Solaire building. They are selling condos that are starting at $1M…in Atlanta. A block north is the Mansion at Peachtree. They have grossly overpriced condos. I have no idea what is going to happen to the Atlantic residence in Atlantic Station (the largest residential building in Georgia, which first attempted to sell their smallest units at $400k) or 1010 Midtown. At the end of the day, the market has to correct itself.

If the government was not propping up housing prices right now, the market would correct itself. This is a part of the market correcting corporate and individual greed along with poor government intervention. At the end of the day, the government can not overmanipulate the market. Georgia homes will drop in price because they have been overpriced.

trea

November 15th, 2010
9:15 am

All of those who complain of Obama after two years, where were you when Bush put us in this position for the 8 years prior. Of course, you don’t remember that. Get your head out your fantasy world. We are having problems, but to blame Obama and not put any of that blame on Bush is just plain stupid. Get a grip and get back to reality. Bush is the cause of this mess, but because he is republican we will just sweep his faults under the rug and blame the guy who is left to try to clean up his mess. This position explains why this country continues to lose its competitive edge in the world because the republicans want to pass blame instead of find solution. It is what it is and we all have to do better to get better.

Bob in Fayetteville

November 15th, 2010
9:17 am

I’m not quite sure where sansho1 gets his info about decreased taxes, but the actual facts are as follows: the current tax for low income is down slightly, true, however, starting next year, EVERYBODY is going to be paying substantially more taxes in one form or another. Call them penalties, offsets, elimination of credits, whatever. The so-called Stimulus did not work as claimed and just increased our debt to a level that will take generations to fix, if it can be fixed at all. This country is now at a point where the amount of money owed to foreign companies/countries is at a level that a demand of payment would collapse the national economy. That is also a fact.

Rather than make outrageous claims about who or what is going on, look at the CBO data that is available on-line. Those are the facts, not the skewed information for the purpose of political gain. We have got to tighten our belts, folks! Quit whining about needing more social plans to offset income for those who don’t work or pay taxes.

Sorry, for all of those who thought he would, Big O is not going to pay for your car or home. It’s up to you. The government is overwhelmed by their own screwups; doesn’t matter which party. Quit living for right now and thinking that you’re going to win the lottery or that the government is going to give you a big windfall. Sorry, it’s not going to happen. Plan using the thought processes of Dave Ramsey, Herman Cain and Clark Howard for your future.

When you vote next cycle, vote based on demonstrated performance, not rhetoric about what the politician CLAIMS he/she will do. We’ve seen what happens when a community organizer gets in way over his head. His race is irrelevant; he was not qualified for the job. His socialist agenda to make us government dependent has already been proven not to work in other countries, but he tried to force it here. Now people are finally waking up.

BTW, one definition of insanity is to try the same solutions to given problems multiple times, using the same parameters, but expecting different results. Think about it!

Sorry for the ramble, but we’ve got serious problems.