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[nimblebear]

Foreclosures hit record high in metro Atlanta Monthly total takes 49 percent jump over last year UPDATED: 7:29 a.m. October 16, 2007 By CARRIE TEEGARDIN The Atlanta Journal-Constitution The total estimated value of properties entering foreclosure in metro Atlanta was $1,076,975,783. Published on: 10/15/07 Foreclosure actions for metro Atlanta hit an all-time high this month, with 6,809 properties in 13 counties threatened with public auction in November. The October statistics, released Monday by Alpharetta-based Equity Depot, represent a 38 percent increase over September and a 49 percent jump when compared with October 2006. "This is the largest swing we have ever seen from month to month," said Barry Bramlett, an Equity Depot vice president. The total estimated value of properties entering foreclosure in metro Atlanta was $1,076,975,783. The statistics cover properties published in legal notices in time to go to foreclosure in November. Public foreclosure sales are held at courthouses around the state on the first Tuesday of every month. Most property owners facing a foreclosure are at least a few months behind with payments. Many avoid a sale on the courthouse steps by filing for bankruptcy, refinancing or selling the property before the auction.