Georgia is the nation’s Canary in the Mortgage Coal Mine

Posted on September 18, 2007
Filed Under GhettoSphere

From the AJC

“The number of foreclosure filings reported in the U.S. last month more than doubled versus August 2006 and jumped 36 percent from July, with Georgia among states with the highest foreclosure rates.The trend that signals many homeowners are increasingly unable to make timely payments on their mortgages or sell their homes amid a national housing slumpA total of 243,947 foreclosure filings were reported in August, up 115 percent from 113,300 in the same month a year ago, Irvine, Calif.-based RealtyTrac Inc. said Tuesday. There were 179,599 foreclosure filings reported in July.

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