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Metro Area Foreclosures Jump

By
Jon Lewis
@ February 8, 2010 10:28 AM
Permalink | Comments (1)

(WSB Radio)  The metro Atlanta foreclosure rate is up again.  Way up.

Foreclosure notices in February were up 27% compared to January, and were increased by 34% where compared to February of 2009, that according to a new report released by Equity Depot. 

The company reports that, in the 13 county Atlanta metropolitan area, there were 10,357 foreclosure notices published in February.  There were 8181 similar notices for the area in January.  A year ago, 7701 properties went on the auction block.

The February notices represent properties that will go to public auction next month.

Equity Depot's report says the lower number of foreclosures in January is probably due, in large part, to a moratorium on foreclosing that some lenders had in effect during the holidays.

Gwinnett County had the most foreclosures in February, with 2163.  Fulton was next with 2008, followed by DeKalb, with 1511.  Cobb and Clayton Counties rounded out the top five counties in metro Atlanta.

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What others are saying

  • Total Since Housing Bust?
    It would be interesting to see the cumulative total of metro area house that have been foreclosed upon since the bust, and the percentage relation of this total to the number of metro houses with a mortgage.
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