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The foreclosure crisis continues in Georgia Atlanta, GA

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The foreclosure crisis continues in Georgia

Foreclosue Sign on Top of For Sale Sign in Front of House

Last week, we reported on the increase in mortgage delinquencies that occurred during the third quarter of this year. According to a new report, close to eight percent of homeowners are behind on their mortgages by at least one payment. It is clear that the foreclosure crisis won’t be nearing its end any time soon as more families are dealing with an upside down mortgage.

While the report by the Mortgage Bankers Association shows that fewer homeowners across the country are delinquent on their mortgage payments, the number of foreclosure filings has risen, particularly in Georgia and other states that are routinely referred to as “high-risk.”

Despite the unusually low interest rates, home sales and prices remain low and analysts say the nation may only be halfway through the housing crisis storm.

The number of home loans behind on one or more payments is down by more than a percentage point from last year at this time and is down half a percentage point from the second quarter. Although those numbers may be encouraging, the report shows that banks may be getting tougher on delinquent borrowers.

Additionally, the report shows that the number of homes going through the foreclosure process in the third quarter was up from last year at this time at 4.43 percent.

It can be a frightening and confusing time for those homeowners who are behind on their mortgage payments or for those who are already going through the foreclosure process, but there are places to go for help. Speaking with an experienced bankruptcy attorney may be the best first step. The attorney may be able to present homeowners with bankruptcy options and help individuals and families determine the best course of action. In the end, homeowners may be able to keep their home and set up a path to financial freedom.

Source: The Oklahoman, “Delinquencies slow, but foreclosure crisis remains,” E. Scott Reckard, Nov. 26, 2011

Posted on behalf of Gingold & Gingold

1718 Peachtree St NW, #385
Atlanta, GA 30309

Phone: (404) 685-8800

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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.

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