Skip to main content
(404) 685-8800 Contact Us
Mortgage default notices increase in August Atlanta, GA

Personal Attention & Experience Since 1971 Family-Owned, Family Focused

Client Reviews

Mortgage default notices increase in August

driveway of a detached house

Nearly a year after the massive robo-signing scandal and the resulting foreclosure slowdown, it appears that banks are pressing forward with their foreclosure processes at an increasingly fast rate. According to foreclosure listing firm RealtyTrac Inc., the number of homes that received an initial default notice rose significantly last month, reaching a nine-month high.

Specifically, RealtyTrac reports, initial default notices increased by 33 percent from July to August, marking the largest monthly jump in four years. Currently, there are approximately 3.7 million more homes in some stage of the foreclosure process than there would be in a healthy housing market. Experts believe this re-energization of foreclosures could help to decrease this massive backlog and, in doing so, bring the housing market closer to recovery.

Last fall, foreclosures came to a screeching halt in Georgia and many parts of the country after it was revealed that mortgage lender employees had been engaging in fraudulent practices. Known as robo-signing, these practices included signing foreclosure documents without reading them or verifying their accuracy and forging the signatures of superiors or of people that did not even exist. Following this revelation, banks and state government officials began investigations of the foreclosure practices in several states, causing foreclosures to slow.

While this may have been a good thing for individual homeowners, it likely stalled the recovery of the damaged housing market. Foreclosures bring home values down, making it difficult for cash-strapped homeowners to sell their homes. In addition, a large supply of foreclosed homes creates hesitance and uncertainty in potential homebuyers.

Source: Atlanta Journal-Constitution, “Mortgage default warnings surged in August,” Alex Veiga, Sept. 15, 2011

Posted on behalf of Gingold & Gingold

1718 Peachtree St NW, #385
Atlanta, GA 30309

Phone: (404) 685-8800

First Free
Appointment



Disclaimer Privacy Policy

I have read the Disclaimer and Privacy Policy

Our Client Reviews

Gingold & Gingold LLC
5.0 / 5.0

Based on 28 reviews

Jack L.

They did an excellent job with my case. Jamie took the time to really listen and understand things. She delved into the details and was extremely knowledgeable and non judgmental. Very professional and they know what they are doing. Would definitely recommend!

All C.

Mr. Gingold was recommended by an attorney I had worked with previously. I met with Ira Gingold to discuss credit issues. He went over each specific issue thoroughly. He advised me of the potential outcomes. He did all this in one meeting for a very reasonable price. When we finished I was confident in moving forward with a resolution. He definitely wants to help people take the appropriate course of action for their circumstance.

Karen B.

Dear Mr Gingold, There are so many reasons to be thankful for all you have done and will do. Anyone who has ever had unfavorable experiences with an attorney or the legal system will feel the trepidation that I experienced once I realized that my situation seemed hopeless. It was by chance and happily good luck that I decided to put my future and sanity into your hands. I was mortified at having to deal with my debts by claiming bankruptcy. I remember in our first meeting how you assured me that I was not alone and should not feel ashamed. And, anyone in this position obviously does not have money to spare and you were clear about all the costs and allowing me to pay according to my own ability to do so. You advised me in all aspects of the law, but also, you were at each meeting incredibly supportive and complementary of my personal and professional plans. Anyone else in this situation should feel blessed to have access to your expertise and support.

Lyla B.

I thought the process of filing bankruptcy was going to be a difficult one. However, Gingold & Gingold treated me with respect and dignity from the moment I walked through their door. I had the pleasure of working with Jamie. She is very responsive, professional, and knowledgeable. She took the time and listened to my every concern and handled each and every one of them to my satisfaction. My experience with filing bankruptcy under Gingold & Gingold's representation exceeded my expectations in a major way. They gave me such a peace of mind. I am very pleased with my decision of going with Gingold & Gingold to represent me when I filed Chapter 13 bankruptcy.

Julie T.

Wow! I am finally out of debt and can say that I am debt free after completing my chapter 7 bankruptcy case with Gingold and Gingold. Mr dangled was very knowledgeable and direct with regard to my debt situation. there were no surprises and the case went as I was advised. The staff was also very helpful whenever I had a question. I will definitely recommend them in the future to my friends.

Sherard W.

I cannot say enough about this law firm. From the initial consultation to our discharge, the entire office kept me updated with every step of the entire process. I came to the Gingold after a bad experience with another law firm. Ira and Jamie immediately began treating me like family through this experience. In the end, they assisted with eliminating many debts including my 2nd mortgage. I cannot say enough about the experience and knowledge that Ira brought to the table from the office visits to the court time. Thank you very much for helping me through this tough time. Thank you.

Write a review