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Clayton County, Georgia ranks number 6 of the top 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, nationwide totals of 243,947 foreclosure filings were
reported , 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 August 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 Clayton County the ratio is even more alarming.
One of every 90.38 households in Clayton 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 101944 households and total foreclosure filings in August
reaching 1128, Clayton 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 Clayton 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 will help you protect your home, lower
or cancel your mortgage, or find a new home at a price no one could
have imagined just a few years ago. |
