Cobb foreclosures continue to slide
by Emily Boorstein
July 11, 2014 01:16 AM | 3657 views | 0 0 comments | 5 5 recommendations | email to a friend | print
MARIETTA — July saw the fewest number of homes sold on the courthouse steps in 2014, and numbers have been primarily hovering at about 300 houses for the last six months.

According to legal notices published in the MDJ, 265 foreclosed properties were scheduled for auction in July, a slight drop from the 267 houses that were set to be sold in June.

In Cobb, the foreclosure process begins when a mortgage company issues a notice of default. After a notice of sale is advertised, the property is auctioned off to the highest bidder on the courthouse steps for cash on the first Tuesday of each month.

July’s numbers are a 51 percent drop from what they were a year ago at 536. Year to date, foreclosures in the county have declined 52 percent. There have been 1,796 Cobb homes scheduled for auction in 2014, compared to the 3,775 from February to July in 2013.

The number of foreclosures have generally been declining each month, except for in May, which had the highest number of homes set for sale this year at 368.

Meanwhile, foreclosures remain high in the state, with Georgia coming in fourth overall in the nation, according to a study released this week by CoreLogic, a California-based firm that provides data on financial, property and consumer information.

The state saw 31,819 completed foreclosures through May, the last month of data available from CoreLogic. Georgia ranked behind Michigan, Texas and California in the study, but Atlanta came in first in the nation’s metro regions with 18,994 finished foreclosures. The study area included Atlanta, Sandy Springs and Roswell.

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