Foreclosures Are Putting A Strain On Everyday Life In Gwinnet County, Georgia.
Gwinnett County, Georgia is one of the top ten fastest growing counties in the countries. This growth has come with a steep price as foreclosure filings here have continued to increase year to year in double-digit increments.
Richard W. Stocks, local real estate professional and stop foreclosure specialist in Gwinnett County offered the perspective on the current foreclosure situation from both the resident and expert's viewpoint.
Gwinnett County also has faced incredible growth in recent years. In 25 years, the county population has grown from 72,349 residents to 751,693. While growth is encouraged, building and planning has become nearly uncontrollable, leaving lawmakers with little to do.
The jump is attributed to aggressive lenders who encourage buyers to purchase more home than they can afford. While this practice is nothing new, home buyers are enticed with a variety of new loan packages which may be deceiving and often devastating. Sub-prime mortgages, once rare in the industry, now make up about 20 percent of all mortgages and have the most impact on foreclosures.
The threat of foreclosure is not limited to homeowners, however. Renters also face the threat of eviction when landlords face foreclosure. Delinquent renters make up a greater portion of evictions, but landlords who face foreclosure may also leave renters homeless. And the trend is on the rise.
There is no typical residence in foreclosure in Gwinnet County. Virtually every neighborhood in the county has been affected by foreclosures. From high-end, gated communities to starter-home neighborhoods, foreclosures are everywhere.
One facet of the foreclosure meltdown that is crushing the real estate market countrywide, but apparently is little area for concern here, is the number of overleveraged homeowners. It appears that this is more of an issue in neighboring Fulton County.
Affected homeowners here are following the same trends as the rest of the country in choosing a way to stop foreclosure. Some just let the foreclosure happen and walk away. Others want to sell, some want to stay. Bankruptcy is high on people minds. Mr. Stocks believes this is largely due the advertising being done by local bankruptcy attorneys.
The largest county in Georgia, with the best schools, and highest salaries has been unable to stave off the foreclosure problem. With too much available inventory, spec-home building at a standstill and builders going out of business the situation here remains stagnant and should remain so for some time to come.
Victim or Victor - the Choice is YoursYou could lose everything or you could come out of this with more than you ever thought possible. It all rides on your decision to contact us. The sooner you do that, the better the outcome. Get started and stop foreclosure now by answering a few questions for us . To Talk to Someone Now Call: 1-888-I-SAVE-80 There's no obligation. In fact the initial consultation is FREE. And that may be all you'll need to stop the foreclosure for good. Learn what you can do to avoid or stop foreclosure in Alaska. |