Posts (RSS)Georgia Foreclosure listings are Flooded By Foreclosure Homes
The second quarter of 2008 started with more homes making their way into Georgia foreclosure listings. The rate of foreclosures in June 2008 was high enough to give the state the reputation of being the eighth-worst state in terms of foreclosures in the nation. The June 2008 report clearly shows that Georgia has recorded 8,714 foreclosure filings that include a healthy percentage of auction sale notices, default notices, and bank repossessions. This has sent many more homes skyrocketing into the Georgia foreclosure listings.
The high number of filings suggests that Georgia is seeing an increase of 21.2 since June 2007 but then on the other hand, the state has also witnessed a 15 improvement in foreclosure listings in Georgia since May 2008. The rate of foreclosure in the state was recorded at one per 444 homes in June 2008. Comparatively speaking, the total number of foreclosures in the US in June 2008 was 252,363, which means there was a fall of 3 since May 2008 but at the same time, there was a huge increase of 53 since June 2007. The average rate of foreclosures in the country was one per 501 U.S. homes in June 2008.
Realty Trac believes that June 2008 was the second consecutive month this year to have witnessed foreclosures filings in excess of quarter million properties across the country. The REO?s and Bank repossessions have increased at rapid pace vis – à – vis auction notices or default notices.
If the foreclosure process goes on like this, then there will be more than a million homes in Georgia foreclosure listings by the end of the year. The foreclosure listings in Georgia exist due to the foreclosure process, and if you would like to get foreclosure information or comprehensive Georgia foreclosure listings then you can get them easily with the help of online foreclosure brokers instead of spending time hunting around.