Georgia Posts Highest Foreclosure Rate in the Nation
1 out of every 300 homes in Georgia has started the foreclosure process.
Georgia has leapfrogged over Arizona, Florida, and Nevada to post the highest foreclosure rate this month in the entire country. According to a RealtyTrac Report (attached), during the month of May Georgia saw 33% month over month growth in the number of foreclosures, and now "One in every 300 housing units (has) a foreclosure filing." How do you think Metro Atlanta, including Cascade and Southwest Atlanta, did compared to other large cities? Atlanta came in second. Our neighborhoods had the 2nd highest foreclosure rate among the 20 largest U.S. cities. Only behind Riverside-San Bernadino, CA was Atlanta with 1 in every 224 homes being foreclosed on instead of 1 in every 179. We all see what the housing burst has done within our …
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Meesay
10:29 am on Thursday, July 12, 2012
The majority of the people with foreclosures had no business buying a home in the first place. Just pure GREED. One third of houses are paid off. Those homes owned by people who only bought what they could afford with money down. People are not entitled to a HOUSE. Houses are far more expensive to maintain than apartments. Government insisting banks make loans to unqualified buyers is what … more ›