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 Local

Department of revenue Chief shares info on tax fraud crackdowns

The Georgia Department of Revenue saved Georgia taxpayers over $33 million in fraudulent tax returns in 2014, according to Revenue Commissio ... Read More


Trammell discusses General Assembly

Rep. Bob Trammell spoke about his first session as a member of the Georgia General Assembly at a meeting of the Coweta County Democratic Par ... Read More


Behavioral hospital CON process crux of court hearing

It was standing room only at the beginning of Wednesday’s hearing regarding the future of the proposed behavioral health hospital in N ... Read More


Relay for Life gets boost from local schools

The Coweta County School System (CCSS) has been a longtime supporter of Coweta County’s Relay for Life (RFL), and its schools are some ... Read More


armed robbery

Suspected gang member, shooting victim pleads guilty

This week, a local gang member pleaded guilty to an armed robbery he committed only a few months after he was the victim of a violent assaul ... Read More

Raise the Praise coming Saturday

Raise the Praise, Coweta!, a Christian music festival, will be held Saturday at the Coweta County Fairgrounds. The Newnan Kiwanis Club is sp ... Read More