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Cobb Real Estate Blog

Cobb Foreclosures Are Way Up

October 10th, 2006 . by Knox Bardeen

Between July of 2001 and July of 2006 foreclosures in Cobb County have risen by 111%. And already, Cobb has surpassed the total number of foreclosures from 2005. Cobb county comprises roughly 7% of Georgia’s yearly 50,000+ foreclosed properties.

Where are the hotspots for foreclosures in Cobb County? Mableton is one of them. So is Austell, Powder Springs and three zip codes in Marietta, 30066, 30064 and 30008.

This problem is only going to get worse in the months to come. With the abundance of ARM’s and interest only loans in existence, and the rising interest rates, homeowners with the loan packages are seeing monthly payments soar. And when these short term notes reach the end of their terms, some homeowners won’t be able to afford to refinance due to the higher interest rates.

Posted in Cobb County Real Estate, Foreclosures |

2 Responses to “Cobb Foreclosures Are Way Up”

  1. comment number 1 by: Cobb Real Estate Blog » Blog Archive » There Are 167 Foreclosures On The Market
    October 10th, 2006 at 2:49 pm

    […] After I wrote my post earlier about Cobb County foreclosures rising in numbers, I checked to see how many foreclosures were on the market right now. These are bank owned properties, which means they have already been foreclosed and the bank owns the home. […]

  2. comment number 2 by: jaymie christine
    September 26th, 2007 at 8:18 pm

    I a m interested in viewing homes in foreclosure. Is this the best way to browse them without signing up for anything?

    Thank you for your help.

    Jaymie

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