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The list of foreclosures continues to grow in West Georgia due to job losses, particularly in the manufacturing sector, based on information provided by speakers at the Economic Forecast Breakfast meeting held in Carrollton by the University of West Georgia.

They said that one in every 38 homes in Carroll County is bank-repossessed and that one in every 49 homes in Haralson County is in foreclosure. They also said that the number of vacant foreclosed homes has been rising. Additionally, the problem of foreclosure has been spreading into affluent neighborhoods and into homes owned by prime borrowers.

Over the past 12 months, three banks in West Georgia have been closed. Housing starts in Carroll County have dropped by a staggering 82 percent and Haralson County also experienced a drop of almost 71 percent.

According to William Smith, economics professor at UWG, most foreclosures occurred in Carroll County, with the highest concentration of foreclosures in the neighborhoods of Villa Rica and in Temple.

The only positive thing about the long list of foreclosures in West Georgia is that it has pushed down home prices to levels affordable to many families. According to Donald Ratajczak, a business professor at Georgia State University, home values have fallen by 33 percent from their peak levels.

Economists who participated in the meeting also agreed that the improvement in home affordability will contribute to economic recovery, especially if the unemployment rate continues its downward direction despite its still high level.

In Carroll County, 4.5 percent of all jobs or 1,744 jobs were eliminated so far this year, most of which were due to the closure of the Pilgrim’s Pride and Carlisle manufacturing plants. In Haralson, 6.7 percent of all jobs were lost, most of which arose from the closure of the Ball manufacturing operation in Tallapoosa.

The job sectors recovering in Carroll County are social services and health care, mostly because of the opening of the Villa Rica behavioral health center called Willowbrook at Tanner. Some small businesses are also helping create jobs in Haralson and food services are surviving in most parts of West Georgia.

Business professor Ratajczak said that in past recessions, consumer confidence helped in contributing to economic recovery, but this year, consumer confidence levels are still down in West Georgia because of concerns about job losses, frozen wages and the area’s still growing list of foreclosures.

Real estate foreclosure listings in Redford, Michigan continue to grow, based on data from the Redford Township Business Association.

According to Robert Miller, deputy supervisor for Redford, around 2,000 homes will be foreclosed this year in the area. Just like other places in Michigan, Redford has been following the foreclosure trend in the state.

In the July to September quarter, more than 37,000 residential properties throughout the state were hit with foreclosure postings, with almost 15,000 already in the foreclosure books of lenders. With the continued increase in foreclosures in the state, Michigan was ranked eighth in the third quarter based on foreclosure rates.

To help contain foreclosure distressed properties in Redford, Thomas Krause, head and founder of the Redford business association, and other members committed to help distressed families avoid foreclosures. They planned to work with Bruce Kaufman, a mortgage restructuring specialist who owns HHAF Systems LLC and who has been negotiating loan modification successfully with lenders.

Early this year, Redford officials tried to launch a foreclosure prevention program that involved HHAF Systems, but the program fell through. The program would have prevented distressed properties from getting into real estate foreclosure listings with only around $500 in fees per mortgage modification and with the fees getting paid by state or federal agencies.

Even if the initial effort to work with Kaufman collapsed, the township has been supporting the plans of RTBA and encouraging business leaders and other associations to help families in Redford save their homes from foreclosure.

To help start the modifications, the association will be conducting fund raising efforts. In November, RTBA will hold a fundraising event at the Timber Wolf Tavern.

Bill Kanbilian, founder of Little Bill?s Trophies, explained that RTBA decided to help solve the problem of foreclosure homes not only to help families, but also to help themselves. Business people know that if communities are overloaded with repo properties and families abandon communities, they will be left with no customers to serve.

Additionally, values of properties will deteriorate, including the values of their office spaces and their business spaces.

Kaufman of HHAF said that he has reduced his mortgage modification fee to only $150, a sharp drop from the usual $500 charged by loan modification firms in the area.

Both Kaufman and Krause reiterated that launching the program to contain real estate foreclosure listings in Redford requires determination to face challenges, but they need to do it to save their township from deterioration.

Bargain repo properties for sale are in abundance in Detroit, according to brokers and realtors in the city.

Industry experts are advising distressed homeowners in South Carolina to seek help now to save their properties from being placed on listings of foreclosed houses. Funding for the Family Services Inc., an agency based in North Charleston that serves as the state’s conduit for mortgage counseling services, is expected to run out before the year ends.

The pace of house foreclosed listing and issuance of default notices slowed in San Diego, according to real estate market analysts. But the rate of delinquencies is still rising, based on statements from government agencies and mortgage lenders.

Home foreclosure listing is still growing in metro Atlanta despite published reports of declining foreclosures in other metro areas in the country.

Pre foreclosure listings are a good start for individuals looking for investment opportunities, but a thorough analysis of risks should be done in order to lessen or remove the risk of losing investment money.

Foreclosure listings in New York are expected to include condo units at the Rector Square in Battery Park City after Anglo-Irish Bank decided to file another lawsuit to complete its foreclosure case in New York State Supreme Court against Yair Levy, the develop, in August. It said that it wants to sell the project to another investor so that the condo conversion can be completed.

A total of $110.45 million loss was posted by Raleigh, North Carolina-based lender RBC Bank for its second quarter results largely because of its bank foreclosure list, based on data from the Federal Deposit Insurance Corp.