Atlanta Experiences Record Number of Foreclosures

In Metro Atlanta, homeowners are dealing with immense aggravation as the number of foreclosures in the area has hit record numbers.   The urban area has a record number of properties scheduled for foreclosure auctions in February 2009.

According to Equity Depot, in 13 counties, 8,425 properties are scheduled for auction on February 3rd.  Last September, that number was much less at 7,967.

Equity Depot reports that Fulton County has the most foreclosures with 1,838 properties.  That county is followed closely by Gwinnett and DeKalb.  Fayette County is reporting the fewest foreclosures in Metro Atlanta as the county's number is only at 128.

It is expected that many of the properties up for auction will not be sold as banks are working on negotiations with homeowners and some owners are choosing to file for bankruptcy and debt relief.
 
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