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)



More Business

Business Briefs

Monica Pearson headlines Business Women’s Lunch Retired news anchor Monica Kaufman Pearson will be the featured speaker at the June 3 ... Read More


Smallman

A fatal shot?

The bird is one of the Creators greatest pieces of engineering, intricate in design yet using only air it reaches incredible It comes in al ... Read More


Poriferous, LLC receives certifications

Last week, Poriferous, LLC announced that the company has received CE Mark approval. The Newnan-based company received certifications for MD ... Read More


Business People

Hunter again named Premier Advisor For the fifth consecutive year, Wells Fargo Advisors has designated Scott Hunter, managing director-inves ... Read More


Interactive Teller Machines

United Bank unveils new banking experience

United Bank is now offering its customers a little more flexibility for banking hours. The bank’s new ITM (Interactive Teller Machine) ... Read More

Smallman

A fatal shot?

The bird is one of the Creator's greatest pieces of engineering, intricate in design yet using only air it reaches incredible heights. It ... Read More