Thursday, December 20, 2007
Foreclosures - November 2007
Georgia was number 7 in the nation in the number of foreclosures in November with just under 9,000. Nationally the number of foreclosures declined. However, there are $500 billion dollars in adjustable rate mortgages (ARMs) that will increase in 2008. When ARMs increase beyond the ability of homeowners to pay, the homes go into foreclosure. So the foreclosure rates in 2008 are still in question.