Atlanta Foreclosure Home Deals
July 11th, 2007
Atlanta Foreclosure Home Deals
From the NY Times:
“ATLANTA — Despite a vibrant local economy, Atlanta homeowners are falling behind on mortgage payments and losing their homes at one of the highest rates in the nation, offering a troubling glimpse of what experts fear may be in store for other parts of the country.
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“The real estate slump here and elsewhere is likely to worsen, given that most of the adjustable rate mortgages written in the last three years will be reset with higher interest rates, said Christopher F. Thornberg, an economist with Beacon Economics in Los Angeles. As a result, borrowers of an estimated $800 billion in loans will be forced in the next 12 months to 18 months to make bigger monthly payments, refinance or sell their homes.”
This is a great opportunity for any home buyer in the market now, as there are a many discounted homes from foreclosures, pre-foreclosures, divorce sales, relocation sales etc. You can get a free list from here: http://www.AtlantaForeclosureDeals.com
Atlanta home prices will eventually stabilize within the next few months, as Atlanta is the fastest growing Metro Area in the nation.
Referenced article: http://www.nytimes.com/2007/07/09/business/09auctions.html
Also check out: http://calculatedrisk.blogspot.com/2007/07/atlanta-foreclosures.html
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