Home defaults on rise in Isles

Foreclosures are on the rise across the nation and state, and are beginning to climb in Glynn County.

In January alone, foreclosures across the country jumped 27 percent, according to RealtyTrac, a private company that tracks foreclosures.

The number of properties in some stage of foreclosure in Georgia during the same month was 7,342, putting the Peach State among the top five in the U.S.

The others were California, Florida, Texas and Ohio.

The rise in foreclosures mirrors a similar increase in the number of personal bankruptcy filings in the state.

Georgia had the second-highest rate of personal bankruptcies in the nation in 2007, according to data compiled by the National Bankruptcy Research Center.

Georgia bankruptcy courts processed 48,227 personal bankruptcy filings last year, an increase of 24 percent over 2006, according to the research center. read more