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Georgia's Foreclosure Bonanza Explained

There's a reason foreclosures seem particularly prevalent in our fair state...they are! This helpful story in the AJC explains the two primary reasons, first, the exponential growth the Atlanta region experienced (a pleasant but distant memory) and the housing boom that followed. But second, and more importantly, Georgia has among the most lender-friendly foreclosure laws in the country. While in some states it can take as long as two years to lose your home to foreclosure, in Georgia it can happen in as little as six weeks. Which means the banks are more than happy to load their loan portfolios with plenty of exposure to Georgia. We're still trying to decide whether to feel proud or ashamed. [AJC]