Georgians Fight for Their Homes

February 25, 2011  |  

(AJC) — Georgia remains one of the top states in the nation for foreclosures, but new data from Atlanta-based Equifax suggest distressed homeowners in the state are fighting longer to keep their houses.  The data also suggest that so-called strategic defaults — when borrowers simply walk away — are likely less common nationally and in Georgia than previously thought. The study compared whether borrowers defaulted first on their home loans or things such as credit cards. It also measured the length of time between a default on a credit card and a first foreclosure notice. The longer the time, known as default distance, the more likely the borrower was diverting resources to stay in their home.

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