Georgia Foreclosures Drop, But More Are Likely Coming
Atlanta Business Chronicle reports that foreclosures declined in April from March, though the Peach State still had the eighth-highest number of filings nationwide.
But don't think this means America's foreclosure mess is over. Most experts believe the recent drop in foreclosure filings simply reflects the problems banks and their law firms have had over filing bad paperwork. Don't let your guard down. If your home is on the brink of foreclosure, don't hope the bank forgets about you because it won't. Consult with Atlanta Foreclosure Attorneys to protect your home and you future.
According to the news report, Georgia had 8,479 foreclosures in April, which was a 35 percent drop from March. It's also down 39 percent from last April. Nationwide, there were 219,258 foreclosures, which was down 9 percent from March and 34 percent from April 2010.
Experts, though think foreclosures will tick up this year. RealtyTrac predicted in January the number of foreclosures will peak in 2011. More than 2.8 million properties got notices of default, auction or repossession in 2010. That number climbed despite a plunge in filings in late 2010 when lenders came under fire for their practices, Bloomberg reported.
Attorneys general in all 50 states are investigating whether banks and loan servicers used faulty documents and bogus signatures on documents, which has been called "robo-signing." Many lenders halted foreclosures as they did their own investigations.
Many of us are underwater on our mortgage payments. It's also possible that you were able to make your payments until a recent unemployment or family medical emergency that left you stuck with thousands of dollars in medical bills that don't allow you to function as you previously were able.
Consider Chapter 13 bankruptcy in Georgia:
- Do you have regular income in your household?
- Are you at risk of foreclosure and want to save your house or protect your finances?
- Has job loss, divorce or other hardships caused unavoidable financial problems?
If you fall into one of these categories, you may qualify for Chapter 13 bankruptcy. What this form of bankruptcy does is allows people to set up an affordable payment plan to pay off debt. But if you are able to make payments over a 3 to 5 year period, you can eliminate debts and still keep your home and other assets.
Atlanta Debt Lawyers are here to answer your tough questions about Chapter 13 bankruptcy, saving your home and other matters in your financial life. Fill out our free personal debt analysis and set up a free consultation immediately.
If you need to speak to an Atlanta bankruptcy attorney call the DebtStoppers Bankruptcy Law Firm at 800-440-7235 today for a free debt analysis.