Foreclosure activity is accelerating in Georgia and Florida, according to ForeclosureS.com, a Fair Oaks, Calif.-based investment advisory firm.The publisher of foreclosure information said nearly 30,000 properties were in some stage of foreclosure in Florida as of mid-July, about a third of them in South Florida. Rising interest rates and a cooling housing market are causing the rise in foreclosures, according to Alexis McGee, president of ForeclosureS.com. "In Atlanta, for example, the inventory of unsold homes had grown by 28.2%, to 43,862, over the last six months," Ms. McGee said. "The foreclosure pace in Georgia is almost double what it was in May of 2005." The company can be found online at http://www.foreclosures.com.
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