Georgia now ranks fourth in the nation for home foreclosures, rising two percent in August. But over the past year, there's been a downward trend in Georgia foreclosures.
New numbers from RealtyTrac show Georgia had more than 11,000 foreclosure filings in August. Most came in metro Atlanta counties. But southeast Georgia’s Chatham County and Hall County to the north each had more than 200 filings.
The uptick may have to do with lenders pushing through foreclosures delayed by documentation problems says Barry Bramlett. His Kennesaw company Equity Depot compiles and studies housing trends.
Bramlett says his numbers show Georgia foreclosures are down 20 percent over the past year.
“I don’t know whether there is a control mechanism where decisions are being made that they’re running less or they’re only foreclosing on literally the most serious delienquiencies out there.”
But Bramlett says with the state’s jobless rate now at 10.2 percent, the housing industry won’t significantly improve until the economy does.