Mon., April 15, 2013 5:00am
Nationwide data compiled by Zillow identified the worst 1 percent of ZIP codes for mortgage debt exceeding home value. Georgia has nearly a quarter of the ZIP codes. Michigan is second. Many of the Georgia ZIP codes make a crescent around Atlanta's southern flank.
Thu., December 20, 2012 11:03am
A tax exemption for struggling homeowners could expire at the end of the year. The Mortgage Forgiveness Debt Relief Act keeps the I-R-S from taxing mortgage debt a lender forgives. According to Realty Trac, 31 percent of Georgia property owners owe more on their loans than their property is worth.
Thu., December 6, 2012 12:02pm
Georgia led the nation in foreclosures during the three months that ended Sept. 30. That’s according to data released Thursday by RealtyTrac, which monitors defaults. Experts say many Georgians lose their homes as they try unsuccessfully to re-negotiate their mortgages.
Mon., August 6, 2012 7:58am
A court ruling in Georgia could force those foreclosing on homes to disclose who actually owns the loan. The ruling last month said that the name of the owner of a mortgage must appear in foreclosure filings and notices sent to delinquent borrowers.
Thu., June 14, 2012 11:48am
Georgia is now first among states in foreclosures. The online service RealtyTrac says, the state leaped into the top spot in May with about one-in-six-hundred homes in foreclosure. Atlanta is second among metro areas only to Riverside, California. Tom Merkel of the non-profit housing consultancy The Impact Group says, the data comes as banks step up efforts this year to collect on unpaid mortgages.
Wed., June 13, 2012 3:10pm
This week the Federal Reserve reported families’ median net worth fell almost 40% between 2007 and 2010. The Fed reports the biggest contributor to the drop in family net worth was the housing collapse. It hit middle income families the hardest.