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Georgia ranks 7th in foreclosures

For the third month in a row, Georgia held the position of having the seventh-highest number of foreclosures in America, according to RealtyTrac’s latest foreclosure report.

The state had 11,136 foreclosure filings in July. That’s up 10.7 percent from last year, but down a whopping 20.6 percent from last month.

Georgia has comparatively speedy foreclosure laws, and lenders are able to foreclose on Georgia properties much more quickly than in other states, perhaps leading to the recent decline.

Nationwide, foreclosures were up 7 percent from last month, and 32 percent from last year.

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