Louise Scoggins' Blog: All Categories

Foreclosures Hit Record Highs…Again

In a report published by the Mortgage Banker's Association last week, research shows that foreclosures hit another all time high for the 4th quarter of 2007. The 4th quarter statistics show that 0.83% of all mortgages are now in foreclosure, beating out the previous high of 0.78% -- set (oh so very long ago) in the 3rd quarter of 2007.  The last time the foreclosure rate was this high was some 20 years ago in 1985.

A whopping 30% of all foreclosures are found in the notoriously popped bubble markets of Florida and California. These two states, along with Arizona and Nevada, are also so overbuilt with new construction homes that the Mortgage Banker's Association predicts it will be a long time before the housing economy…

Springtime Promises New Credit Scores for All…

Fair Isaac Corporation, the company that makes the FICO credit score used by most lenders, has revamped their scoring systems in hopes of determining what borrower is more likely to default on their loan. Fair Isaac last adjusted their scoring systems earlier this decade, and is now accelerating the release of "FICO '08" under the demand from lenders to have a better way to determine and manage their risks. The new system will be available for lenders to test and / or use this spring.

The new system will look a little harder at the borrower's credit history. FICO '08 will be more forgiving on borrowers who have occasionally defaulted but have overall a good credit standing, and be harsher on the borrower who…

Atlanta Foreclosures - New Hope for Foreclosure Victims

There seems to be a little light at the end of the tunnel for foreclosure / pre-foreclosure victims as the Feds announce the creation of “Project Lifeline”. Project Lifeline, formed by six of the nation’s largest financing institutions, allows homeowners who are severely delinquent on their mortgage payments to freeze the foreclosure process for 30 days to try and work something out with their bank. There are some mortgages that will not qualify – those on investment properties and vacation homes, nor will homes already in foreclosure or bankruptcy be eligible – but it seems like overall it seems like a good plan.

I have some clients who were recently able to take advantage of the Project Lifeline…

The Halt of New Construction in Cherokee County

It's no surprise to anyone that the market right now is down. We hear it on the news, we see it with our neighbors "For Sale" signs still in their yards, and now we are REALLY seeing it with the screeching halt of new construction right in our own backyards.

Many of us have heard by now that construction has ceased in Seasons at Laurel Canyon, a beautiful golf community in north Canton off Hwy 140. The builder, Levitt & Sons, filed bankruptcy a couple of months ago, leaving an entire community filled with unfinished houses, an incomplete clubhouse, and many very upset residents.

Tony Perry, CEO of Oakwood Homes, has shut his doors as well. Perry is a veteran Cherokee County builder, and is very well…

Life as You Please in East Cobb...

Welcome to life in East Cobb, a highly-coveted address for native Atlantan's and newcomers alike. Located approximately 15 miles northeast of the downtown area, this affluent part of Atlanta offers the ideal suburban lifestyle. With easy access to both I-75 and 285, the location is as close to the city as you can get without being in Fulton County.  The convenience of a shorter commute combined with the active, family-oriented community feel of East Cobb makes for the perfect balance of work and play.

There are many reasons one would choose to live in the East Cobb area, but probably the first reason that comes to mind is the incredible public school system. "A Community with a Passion for Learning": East Cobb is home…

Cherokee County, GA

Beautiful Cherokee County sits approximately 30 miles north of downtown Atlanta, and is nestled in to the foothills of the Blue Ridge Mountains. "Where Metro Meets the Mountains" is the fitting slogan of this growing county. Canton is the County Seat, and other cities include Woodstock, Holly Springs, Ball Ground, and Waleska. Easily accessed by a combination I-575, Hwy 92, GA 140 and GA Hwy 20, this picturesque part of Metro Atlanta is becoming "Home" to more and more people.

It's easy to see why people are flocking to Cherokee County. Reasonable housing prices, lots of new construction, low property taxes, and low crime rate only a few of the reasons people are heading north. Another great reason to consider Cherokee County is their…

Towne Lake in Woodstock, GA

What a place to call home! Towne Lake in Woodstock, GA is a picturesque master-planned development, where the idea is “live, work, play” all within Towne Lake. It is located off I-575 in Cherokee County, just a few miles north of the Cobb / Cherokee County line and most easily accessed by Exit 8 on 575. A charming combination of tree-lined communities and commercial necessities makes the Towne Lake area Cherokee County’s most affluent address.

Towne Lake boasts two professional grade golf courses with Towne Lake Hills and Eagle Watch. Both golf courses wind their ways through gorgeous established communities. The drive down Towne Lake Parkway past the golf courses and other swim / tennis communities is still one of my…

City of Woodstock, GA

Located in southern Cherokee County, the city of Woodstock GA is a classic combination of history past and times to come. Woodstock is about 30 miles north of downtown Atlanta, and can be easily accessed by Interstate 575. Woodstock has grown immensely in the past decade, welcoming many new townsmen as the urban sprawl made its way to Cherokee County.

“Where Yesterday Lives and Today Waits” is the slogan found at the Woodstock Visitor’s Center, and I couldn’t agree more with this motto. Woodstock has a fantastic historic downtown, with buildings dating back to 1879! The downtown area is currently under going a revitalization, with the addition of “Woodstock Downtown”, an incredible new multi-use development that the city is…