Foreclosure numbers in State remain steady
Atlanta home owners continue to get high numbers of foreclosure notices. Mortgage companies sent out nearly 9,500 this month. But that doesn’t mean all of the properties will be auctioned off on the courthouse steps.
Most of the owners who received foreclosure notices have been down this road before. Barry Bramlett is president of the real estate research firm Equity Depot.
“Sixty-five percent of everything we see statewide in Georgia is a repeat from a prior period in other words, the property and the mortgage has been advertised for foreclosure prior.”
Lenders could be reluctant to take back more properties, Bramlett says. That could be one reason the number of foreclosure notices has remained at about the same level as last year. Gwinnett County had the most notices in May, about 2,000. It was followed by Fulton and DeKalb.
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