Atlanta Foreclosures Dipped, but Expected to Rise Again
Atlanta foreclosures counted in January for the February public auctions decreased, but are expected to rise again as major lenders resume their suspended foreclosure activity during the holidays. Over 8,100 homeowners were notified of foreclosure in January.
The number of Atlanta foreclosures listed in January for the February public auctions dipped, but is expected to rise again in February, based on data from real estate analyst Equity Depot.
More than 8,100 homes in the Atlanta metro area were notified of foreclosure in the first days of January, marking a three-percent drop from January 2009 and a 21-percent decrease from December. These properties are scheduled for public auctions in February.
Under foreclosure laws in Georgia, foreclosure notices must be published in a newspaper distributed in the county where the property is located once a week for 4 weeks prior to the auction, so foreclosures are counted in advance. Owners of delinquent properties must also be notified by registered mail not less than 15 days prior to the auction.
By Cassiano Travareli