Atlanta Foreclosure Crisis Upclose

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Real inside look into Metro Atlanta’s foreclosure problem. http

25 Comments For This Post

  1. Sassymarkrep Says:

    I remember when I first looked into relocating to this area from California and the agent was pushing interest only loans. Luckily we had done our homework but he kept pushing it, so we changed agents. A lot of people went with it and now are suffering.

  2. pikeasaurusrex Says:

    Almost 3 years later the prices have continued to decline and quite frankly you’ll still be paying too much. Home prices are nowhere near bottom!

  3. nighthawk006phoenix Says:

    @The7legacy: That’s good advice!

  4. The7legacy Says:

    There are 10 money rules to live by——-
    1-Live within your means.
    2-Don’t buy stuff you don’t need.
    3-One credit is all you need.
    4-Establish a personal budget.
    5-Track your monthly spending
    6-It’s Not What You Earn, It’s What You Spend.
    7-Does my income more than cover all these expenses?
    8-What could I have spent less on?
    9-Eat in rather than out
    10-Listen to your Conscience.

  5. Modacolorist Says:

    “When the market turns around” – Wow what an imagination.

  6. snitchboy12 Says:

    and no one goes to jail. Nice

  7. castletriglav Says:

    @MrBigPoppa43 Stop spamming asshole.

  8. notorious3483 Says:

    see it every day.. i cut all the yards for the banks. it sucks .

  9. MrBigPoppa43 Says:



  10. evolutionsolutionco Says:

    hey man…I thought I saw the end of the housing depression or at least the bottom. I paid $650,000 cash for a foreclosure home that was selling for over 1,4 million in 2008 and to be honest…I don’t know if I could even get what I bought the house for today. I thought I could flip my house in 2 years in order to avoid capital gains taxes but no profits will be seen until all the garbage ie short sales and foreclosures get bought up, torn down, etc..

  11. 689362003 Says:

    this is why i will never buy a house! untill i save up enough to pay cash

  12. pondovillage Says:

    Now the area is a sea of boarded up homes, many listed by banks for $25k to $40k, less than prices 20 years ago. However, due to the credit crunch and often times the vandalized condition of these properties, the potential homebuyers who would owner occupy these homes cant get financing, so they sell cheap for cash or just sit. The speculators made a killing selling to eachother and milking the banks who are stuck with the mtgs. GA has the highest bank failure rate in the US, this is why!

  13. pondovillage Says:

    The first part of his video discusses the West End of Atlanta. This was an inner city area of lower income working class residents living in modest priced homes built in the 1920s -1940s that sold for $30k to $50k all through the 1980s and early 90s. Then speculators targeted the area for rehab and flipping using crooked mtg brokers and appraisers and drove the prices up to $350k!! by 2005. The local residents were being bought out by investors while rising property tax forced out others.

  14. mwadevilg Says:

    I like what he said about legitimate buyers. My definition of that is someone who wants a home sweet home to live in and love and grow with their family.Not some house flipping fags and mortgage lenders and real estate brokers that artificially drive up values fot their greed. We have lost our family values a long time ago, why shouldn’t we also lose the “home” of those values? Think about it.

  15. monkeyman1140 Says:

    The lesson to be learned here is that the wealthy drink first from the government money trough.

  16. Kashly1 Says:

    the reality in real estate. But theirs a lot of more possibilities look for home business. See how take a look to my channel or email me.

  17. jandean61 Says:

    i GOINg to do a video like this for Austin,Texas……oh, wait, Austin,Texas doesn’t have rampant foreclosures…….

  18. AmericanDiaz Says:

    fix your mouth, his hairline is fine but your mouth is full of doo doo, haha.

  19. AmericanDiaz Says:

    yeah and that $100.00 isnt even 10% of their mortgage payment, get out of fantasy land and stop making apologies for criminal bankers and lenders who got bailed, out do not forget.

  20. tonmagicwon Says:


  21. shakespir23 Says:

    fix your hairline fucker

  22. timecatfatima Says:

    Mondo Beno,
    Foreclosure is not about home sizes. Many people live in small homes and have lost their jobs,causing them to foreclose. Others were sold off on Adjustable Rates with the note of you can always refinance later, but the market took a slump. Most of the foreclosures are due to lack of employment.

  23. hunnypb78 Says:

    Strange how he could pay to fix the house and not pay his mortgage.

  24. November302008 Says:

    Just google Fix Housing First. Some really good ideas.

  25. MondoBeno Says:

    It’s terrible when a homeowner loses his/her house. But there’s a lesson to be learned here.
    Never take out an adjustable loan. And don’t buy a house you can’t afford to pay for.
    A family that can’t be happy in a tiny house won’t be any happier in a big one.
    When Christmas comes around, don’t go on a spending binge. Think of others. The $100 you spend on the tree can feed 10 people.

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