Atlanta Bankruptcy Law Blog

Atlanta foreclosures reach lowest level since recession

On behalf of Gingold & Gingold LLC posted in Foreclosure on Thursday, February 14, 2013.

It's easy to focus on the negative news about the housing market and the economic recovery here in Atlanta and around the country. Atlanta homeowners still have a long way to go before the city is out of the financial state that resulted from the recession, but the good news is that statistically speaking, the city has made a lot of progress.

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Tags: foreclosure rates, housing market, recession

Shelters aim to protect the four-legged victims of foreclosure

On behalf of Gingold & Gingold LLC posted in Foreclosure on Thursday, July 26, 2012.

Regular readers of our Atlanta bankruptcy blog are well aware that, for the past several years now, Georgia has remained among the states with the highest number of mortgage defaults, repossessions and foreclosures. We have previously written about the effects of foreclosure on children and families, but what about the less-discussed victims of the foreclosure process?

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Tags: foreclosure, foreclosure rates, homeowner, renters

Despite national five-year low, Atlanta foreclosures increase (2)

On behalf of Gingold & Gingold LLC posted in Foreclosure on Friday, June 8, 2012.

Earlier this week, we wrote about the new report which stated that the national foreclosure rate has dropped to a five-year low. As previously discussed, that initial report of a falling foreclosure rate does not paint a complete picture of the situation in states like Georgia, where foreclosures have increased year-over-year.

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Tags: Georgia, foreclosure, foreclosure rates, short sale

Despite national five-year low, Atlanta foreclosures increase (1)

On behalf of Gingold & Gingold LLC posted in Foreclosure on Wednesday, June 6, 2012.

U.S. foreclosures recently fell to their lowest level since July of 2007, hitting a nearly five-year low. However, this seemingly-positive announcement is not as straightforward as it seems, as shown by a closer examination of the data. While foreclosure rates declined in several of the "hardest-hit" states, Georgia is just one of many states that saw a year-over-year increase in foreclosures.

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Tags: Atlanta, Georgia, foreclosure, foreclosure rates, repossessions

Georgia ranks in the top five states for foreclosure filings

On behalf of Gingold & Gingold LLC posted in Foreclosure on Monday, April 2, 2012.

Although the state saw a slight drop in foreclosure filings from January to February, Georgia currently has the fourth-highest rate of foreclosure filings in the country.

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Tags: Atlanta, Georgia, foreclosure, foreclosure rates, robo-signing

Part of Georgia's foreclosure fraud settlement may be diverted

On behalf of Gingold & Gingold LLC posted in Foreclosure on Monday, March 19, 2012.

Five major mortgage lenders recently reached a $25 billion foreclosure fraud claims settlement with a committee of attorneys general from several states. Georgia Attorney General Sam Olens was not a member of that committee but accepted the deal nonetheless. Although Georgia's share of the settlement will total $815 million, more than $100 million of that money may not be used to benefit the state's struggling homeowners or victims of foreclosure fraud.

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Tags: distressed homeowners, foreclosure fraud, foreclosure rates, mortgage fraud, mortgage lenders

Economists predict a new wave of foreclosures in 2012

On behalf of Gingold & Gingold LLC posted in Foreclosure on Friday, December 16, 2011.

Although the robo-signing scandal and resulting foreclosure slowdown happened nearly a year ago, it seems to still be affecting foreclosure activity in a fairly major way. Specifically, movement on repossessions and foreclosures has slowed down significantly in the past year as banks have worked through their paperwork problems. But according to housing market analysts, that slowdown will likely end in the coming months as banks begin to push foreclosure documents through the courts.

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Tags: Georgia, banks, foreclosure, foreclosure rates, housing market

Foreclosure in Georgia's high-end housing market

On behalf of Gingold & Gingold LLC posted in Foreclosure on Thursday, November 10, 2011.

Although the economic recession and its lingering effects have had a negative effect on people in all economic classes, data appears to indicate that poorer people are experiencing greater difficulty in recovering from the recession. For example, while the slump in high-end home sales has been low in recent months and years, it has not been nearly as low as the plummeting sales figures for average-priced homes.

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Tags: Georgia, foreclosure, foreclosure rates, housing market

Study: Foreclosure can harm your health

On behalf of Gingold & Gingold LLC posted in Foreclosure on Tuesday, October 4, 2011.

It is undisputed that foreclosure can wreak havoc on your finances, your living situation, and many other areas of your life. But did you know that a foreclosure can also cause significant damage to your health?

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Tags: foreclosure, foreclosure rates, health, homeowner

Georgia churches forced into foreclosure

On behalf of Gingold & Gingold LLC posted in Foreclosure on Friday, February 4, 2011.

As homeowners throughout Georgia and across the country struggle with unemployment, debt, bankruptcy and foreclosure, the effects of their financial difficulties often have a lesser-seen ripple effect on their communities. One growing example of this is the increase in church foreclosures that has taken place in recent years. When church members can no longer afford to tithe to their church, or are forced to move out of their homes and away from their congregation, the church also has a loss of income. And with the high occurrence of financial difficulties among churchgoers, church foreclosures are becoming more and more common.

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Tags: Georgia, church foreclosure, foreclosure, foreclosure rates, recession

In Landmark Case, Court Voids Two Foreclosures

On behalf of Gingold & Gingold LLC posted in Foreclosure on Friday, January 7, 2011.

Earlier today, the Massachusetts Supreme Judicial Court sent down a news-making ruling voiding the foreclosures of two local homes. According to the court, the complicated mortgage paper trail obscured the actual ownership of the homes and made it so the mortgage lenders did not hold clear titles to the properties when they instituted the foreclosures. Although this is a Massachusetts state ruling, its effect is expected to be felt in Georgia and throughout the country as homeowners fight back against alleged improper foreclosure practices.

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Tags: foreclosure, foreclosure rates, housing market, lawsuit, mortgage lenders

In Atlanta and Statewide, Unemployment Tops Ten Percent

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Wednesday, December 22, 2010.

The holidays are a difficult time to be unemployed. There are gifts to buy, baking to do, and travels to make, none of which come cheap. For someone who has recently faced the loss of a job, or for those who have been searching for a new job for several months or even years, the strain of the holidays merely adds to the stress of making ends meet, paying bills on time, and avoiding bankruptcy and foreclosure. Yet many Georgia residents are now dealing with unemployment at the holidays: in November, the unemployment rate for metro Atlanta and the state as a whole both jumped above ten percent.

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Tags: Atlanta, Georgia, bankruptcy, foreclosure rates, unemployment