Foreclosed Homes In Georgia Auctioned for $1,000

ForeclosuresRI President and co-founder, Jeremy Shapiro Georgia is the only place in the country where you can find a $100,000 home with a starting price of $1,000 in an auctions. One of the largest foreclosure auctions in Atlanta's History brought out thousands to the Georgia Wold Congress Center. 700 foreclosed homes were up for auction by banks and were listed tens of thousands of dollars bellow market value. Indiana non-profit housing counselors are bombarded with calls from homeowners who may be going into foreclosure in the near future if they don't get some help. Non-profit housing counselors are on the front lines of the foreclosure crisis, but they are a small group with few resources. Government budget cuts, a splintering of federal funds and difficulties in getting referrals from the national foreclosure hot line are seriously hindering their efforts. In Indiana it already looks as if 2008 will have significantly more foreclosed houses sold at sheriffs auction than last year. By June 11, halfway through the year, a total of 307 properties will have gone up for sale by auction, up from last years numbers. In 2007, the annuals total reached 493. Recently about 40 people gathered at the Porter County Jail for the auction of 30 properties, down from 61 that were scheduled.

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