Most Foreclosure of Properties bought in '00's

Written by Allison Slusher

There are a total of 45 advertisements of foreclosures in “The Newnan Times-Herald” this Sept.

The homes are scheduled to be auctioned off at “Coweta County Justice Center” in October. Usually, a lot of the advertised homes don’t get as far as auction because owners will come up with payments.

Every one of the advertised homes are residential, most were bought between ’01 and ’10. 2/45 were bought prior to 2000, and a mere 6 were bought post ’09. 4 in ’10 and 2 in ’12. 11 of the homes were bought (or refinanced) in ’06, and 7 in ’05, at the peak of the “housing bubble”. 5 were purchased in ’08, just shy of the bursting bubble. 

Over the nation, foreclosures have decreased a lot since over the past year. “Serious delinquencies,” which are mortgages that haven’t been paid in over 90 days after their due date, have decreased twenty-three percent from 2014 to 2015.

 Finished foreclosures declined by over 24% in July ’14, and property prices have increased by 7% across the nation since last year. Foreclosures are down 6.1% since June ’15 - July ’15.

 Aside from these increases, Georgia is #5 in the nation for foreclosures between ’14 and ’15. There were 27k foreclosures throughout Georgia in that period. Florida was #1, by a landslide, having almost 100k foreclosures. Michigan came in 2nd with 47k.