163 foreclosures for Sept. among lowest of year
By SARAH FAY CAMPBELLsarah@newnan.com
There are 163 foreclosure-related advertisements listed in today’s legal advertising section of The Newnan Times-Herald.
That’s up slightly from last month, when there were 160 — the lowest of the year. July’s 224 notices were the highest of the year.
However, one that isn’t residential is a 43.25-acre tract along Hwy. 16 East owned by PTV LLC. The property was formerly the Autumn’s Gate mobile home park.
According to the legal advertisement, the sale under power is to secure debt under a promissory note that was originally executed on June 27, 2006, for $3.5 million. The promissory note was modified several times, with the most recent modification on March 24, 2010. The last principal amount listed was $2,115,536, listed from a modification on Aug. 5, 2009.
PTV originally bought the property in June 2005.
Georgia’s foreclosure rates remain among the highest in the country. According to Realty Trac, Georgia is one of six states with the highest rates of foreclosures.
There were 10,861 foreclosure notices issued in July in Georgia — one for every 376 housing units.
In Coweta, 154 properties received a foreclosure filing in July, according to Realty Trac. That’s one in every 326 housing units.
The July foreclosure rates were the highest in Gwinnett, Fulton, and DeKalb counties. In Gwinnett, there were 1,334 foreclosure filings, or one for every 219 housing units.
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Monthly foreclosure totals for Coweta County over the last year are:
• Sept. 2011 - 120 (down from 199 in 2010, or -39 percent).
• Oct. 2011 - 154 (down from 237 in 2010, or -35 percent).
• Nov. 2011 - 242 (down from 307 in 2010, or -21 percent).
• Dec. 2011 - 155 (down from 199 in 2010, or -22 percent).
• Jan. 2012 - 199 (down from 217 in 2011, or -8.3 percent).
• Feb. 2012 - 165 (down from 227 in 2011, or -27 percent).
• March 2012 - 164 (down from 235 in 2011, or -30 percent).
• April 2012 - 162 (up from 159 in 2011, or 1.8 percent).
• May 2012 - 214 (up from 183 in 2011, or 16.9 percent).
• June 2012 - 185 (up from 166 in 2011, or 10 percent).
• July 2012 - 224 (up from 153 in 2011, or 46 percent).
• Aug. 2012 - 160 (down from 211 in 2011, or 32 percent).
• Sept. 2012 - 163 (up from 120 in 2011, or 35 percent).
(Source: The Newnan Times-Herald legal advertising department.)
