Foreclosures in Metro Atlanta up again

There were 8,845 foreclosure notices in the metro Atlanta area in October, up 16 percent from September's 7,634, according to Equity Depot of Kennesaw.

That follows the up-and-down movement of the notices over the last seven months and reflects what is going on in the economy, said Barry Bramlett, the president of the number crunching firm.

Foreclosure notices are the first step in the process but do not always lead to a repossession. Property buyers can avoid foreclosure by paying loans or negotiating new deals with banks or lenders.

Bramlett said some of the businesses that one might expect a slow economy to affect are showing strains.

One example that showed up in Equity Depot's numbers were notices for a $175 million blanket loan that secures 19 separate Jameson Inns in Georgia. The W Hotel in Buckhead on Peachtree Street has been advertised for several months on a $36.5 million deed, Bramlett said.

Read More: http://www.ajc.com/business/metro-atlanta-foreclosures-up-1197739.html