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Gwinnett County, Georgia ranks number 45 of 100 counties
in the nation with the highest percentage of households
facing
foreclosure, according to data provided in RealtyTrac's August 2007
U.S. Foreclosure Market Report.
In August, 243,947 foreclosure filings were reported nationwide;
up 36 percent from the previous month and up 115 percent from August
2006. This is the highest number of foreclosure filings in a single
month that RealtyTrac has reported since it began issuing the
monthly report in January 2005.
The report also showed a national foreclosure rate of one
foreclosure filing for every 510 households for the month; the
highest national ratio ever issued by the foreclosure tracking
company.
For homeowners in Gwinnett County the ratio is even more
alarming. One of every 188.27 households in the county is now facing
foreclosure.
In August 2007, one of every 271 households in Georgia faced
foreclosure. This is a 10.55 percent increase from the previous
month and an alarming 133.47 percent increase over foreclosures
filed in August 2006. For August 2007 Georgia reported 13,931
foreclosures which moved the state to the number four position for
states with the highest foreclosure rates. Only Nevada, California,
and Florida had higher rates. Texas, Michigan and Georgia all
reported more than 10,000 foreclosure filings for the month,
documenting the fourth, fifth and sixth highest state foreclosure
totals respectively, followed by Arizona, Colorado, Illinois and
With 265462 households and total foreclosure filings in August
reaching 1410, Gwinnett County is one of 15 counties in Georgia to
make the national list for counties with the highest foreclosure
rates.
Although it is unclear what may have caused foreclosure activity
in Gwinnett County to spike, one thing is clear. The situation is a
national crises for homeowners with mortgages they can no longer
afford AND an unprecedented opportunity for investors and home
buyers.
The resources listed below may help you protect your home,
lower and even cancel your mortgage, or find a new home at a price
no one could have imagined just a few years ago. |
