Coweta County

Foreclosures continue downward trend in May

by Sarah Fay Campbell

Foreclosures are continuing a downward trend in Coweta. 

There are 105 foreclosure-related advertisements in today’s edition of The Newnan Times-Herald. The May 2013 listings are down from 108 for April. Coupled with December’s 102 foreclosure advertisements, these are the lowest numbers since 2007. 

It’s a trend that is being seen in more places than just Coweta. 

According to credit reporting agency TransUnion, the percentage of mortgage holders who are at least two months behind on their payments fell by 21 percent in the first quarter of 2013, compared to the first quarter of of 2012. 

That’s the biggest quarterly drop since TransUnion started collecting the data in 1992. 

“We certainly expected improvement this quarter, as the housing sector is in recovery, but the magnitude of the improvement was unexpected,” Tim Martin, TransUnion’s group vice president of U.S. housing, said in a statement.

Nationwide, the mortgage delinquency rate was 4.56 percent in the first quarter, down from 5.78 percent in the prior year quarter. 

The rate fell 12 percent from the last three months of 2012. The rate in the final quarter of 2012 was 5.19 percent, a four-year low. 

That’s still well above the 1 to 2 percent average historical range. 

...................

FORECLOSURES BY THE MONTH

The monthly totals of foreclosure advertisements in The Newnan Times-Herald over the last year are:

• 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).

• Oct. 2012 - 165 (up from 154 in 2011, or 7 percent).

• Nov. 2012 - 140 (down from 242 in 2011, or -58 percent)

• Dec. 2012 - 102 (down from 155 last year, or -34 percent)

• Jan. 2013 - 115 (down from 199 in 2012 or -57.8 percent)

• Feb. 2013 - 166 (up from 165 in 2012, 0.99 percent)

• March 2013 - 178 (up from 164 in 2012, or 7.9 percent)

• April 2013 - 108 (down from 162 in 2012, or -33 percent)

• May 2013 - 105 (down from 214 in 2012, or -51 percent)



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