Foreclosures up from January listings

By SARAH FAY CAMPBELL
sarah@newnan.com
A commercial outparcel in the Newnan Station development, owned by Outmed LLC, is one of the properties listed for sale on the courthouse steps in the foreclosure advertisements running in today's legal section of The Newnan Times-Herald. 
The 1.0775-acre tract includes outparcels E and F in Newnan Station, according to the foreclosure advertisement. It is being sold to satisfy a debt of $875,000 contained in a security deed issued Nov. 24, 2003. 
There are 166 foreclosure-related advertisements for February. That's a significant jump from the 115 advertisements in January, and it's the second month of rising numbers after a steady decrease that began in October 2012.
This month's 166 foreclosures is the highest monthly total since July 2012, and one more than February 2012.
There are some commercial foreclosures that are re-runs from previous months, including property at the Newnan-Coweta Airport at Whitlock Field owned by Fourth Quarter Properties, the company of developer Stan Thomas; the AAMCO transmission shop on Tower Place owned by Nel-Pad and Subsidiaries; and multiple lots in the Summerlin and Woodland Oaks subdivisions owned by Lichty Brothers Commercial Construction. 
Another notable foreclosure involves several lots in various subdivisions, being sold to secure a $2 million debt of The Chattahoochee Mortgage and Investment Corporation. The security deed was dated June 28, 2011. The advertisement includes lots in the Mineral Springs, Avondale, and Belmont Park subdivisions.
.........................
COWETA FORECLOSURE LISTINGS DURING PAST YEAR
• 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).
• 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 in 2011, 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) 
(Source: The Newnan Times-Herald legal advertising department.)



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