Bankruptcy

Record Number Of Georgia Foreclosures Scheduled For April

By Scott Riddle

The Atlanta Journal has an article about the record number of foreclosures scheduled for April in Georgia.  

The foreclosure problem in metro Atlanta appears to be worsening. More than 10,000 lender-owned properties are scheduled to be sold on courthouse steps next month, according to EquityDepot.net, which tracks foreclosures. The 10,138 figure for 13 counties shatters the previous record of 8,425 properties scheduled for sale in February, Equity Depot.net says...

In the new foreclosure numbers, Fulton leads with 2,181 properties scheduled for sale, followed by Gwinnett, DeKalb and Cobb counties...

Foreclosure sales are held on courthouse steps the first Tuesday of each month. Many properties end up not selling because of settlements and bankruptcy filings. When properties generate little bidder interest, lenders end up taking them back for sale later.

Full post as published by Georgia Bankruptcy Blog on March 17, 2009 (boomark / email).