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Home foreclosures still climbing, hit hard in wealthier counties
Tennessee Foreclosure News
Williamson County led the eight-county area with the largest jump in foreclosures last quarter, as the bonanza of bad loans hits even high-end neighborhoods.
Foreclosures in the county soared 353 percent in the third quarter, climbing to 77 from 17 in the same quarter in 2007, according to Southeast Title of Tennessee Inc., which complies foreclosures by county from recorded deeds.
Across Middle Tennessee, foreclosures rose 45 percent in the quarter to 1,107, compared to 762 in the year-ago period.
“I don’t think that all of the possible foreclosures that could come out of those 2007 loans have hit the market yet,” says Kevin O’Connell, president of the Nashville School of Real Estate. “We will still see increases in the number of foreclosures until early spring next year.”
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