Holy foreclosure, Batman!

It’s no secret that foreclosed homes are sometimes occupied by abandoned household pets and illegal squatters.

But 20,000 Mexican free-tailed bats? That’s a new one.

It’s a serious problem that one small community in Tifton, Ga., is apparently attempting to correct. In the meantime, the putrid smell of massive amounts of “guano” (bat feces) has neighbors closing their windows and locking themselves indoors.

Here is one account from Becky Campbell, according to the Atlanta Journal Constitution, who lives across the street from the modern-day bat cave:

“To go out our front door has always been a big issue during the summer months because the smell has just been breathtaking almost. Even the mailman said he hated to stop at the mailbox because of the smell.”

Bat guano is actually very harmful to humans, containing “a cocktail of pathogens” that can lead to illness and/or significantly exacerbate existing conditions.

An article from Associated Content explains the risks of exposure to bat guano:

“Bat guano can build up in attics and eaves that have been used by bats, and even if the human occupants of the building are not aware of the dung, they can be harmed by it. After guano has lain around for a couple of years, a fungus can grow in it, releasing spores into the air that cause histoplasmosis in humans…. Histoplasmosis can cause serious respiratory diseases in humans, causing fever and chest pains. If left untreated, histoplsmosis can turn into a chronic lung disease that resembles tuburculosis.”

Tru Tech, a local company that was brought in to evaluate the batty conditions, reportedly devised a plan to remove the unwanted nocturnal guests, as well as the costs involved, and sent it to the lender that currently has possession of the repossessed home.

It sounds messy … and expensive.

CNN.com has the foreclosure “hot spot” list, which goes a little something like this:

1. Spartanburg, S.C.
2. Albuquerque, N.M.
3. Myrtle Beach, S.C.
4. Savannah, Ga.
5. Charlotte, N.C.
6. Tulsa, Okla.
7. New Orleans, La.
8. Virginia Beach, Va.
9. York, Penn.
10. Mobile, Ala.

Two converging trends – unemployment and adjustable rate mortgages — are primarily to blame for the spikes in the cities mentioned above … and likely elsewhere throughout nation.

The 10 cities mentioned above, according to the report, however, have the fastest-growing rates out of the 100 worst-hit places.

To search foreclosed homes for sale in Spartanburg or anywhere else, including in your area, click here.

If you’re the owner (not the borrower) of a foreclosed home in DeKalb County, Ga., you best keep your grass green and your yard clean.

That’s because if it looks to be in disrepair and/or in a state of neglect, the local government will hit you with a $1,000 fine every day until you clean up your mess.

The county means business. And the new laws are set to kick in on Oct. 25, 2010, which gives property owners time to get up to snuff … or else.

If property owners refuse to comply and fail to pay the hefty fines the county will start levying liens, providing it with the opportunity to potentially take ownership of the homes down the road. From there it could “renovate them, sell them and put families, good families, back into homes.”

Unsurprisingly, bankers, investors, attorneys and mortgage holders opposed the ordinance, arguing that it was too excessive. But they do admit to sharing the same goal, which Joe Brannen of the Georgia Bankers Association details via 11Alive.com:

“I think we all have the same goal,” he said, “getting those foreclosed homes dealt with quickly, maintained while they’re in foreclosure, and getting them back on the market and sold quickly…. Traditional lenders are accommodating the rules that are in place, now. They’re maintaining the properties, they’re getting those properties sold as quickly as possible. The county has concerns about other properties that are deteriorating, properties that are not owned by banks but by others such as individual investors.”

To check out the foreclosed homes in DeKalb County or elsewhere throughout Georgia click here.

Good ‘ole southern cooking can do much more than make mouths water for one Georgia woman.

Beverly Davis, you see, is confident that her way out of foreclosure is through the stomachs of her hungry neighbors.

She recently lost her three-bedroom, two-bathroom home in Fairburn to foreclosure shortly after losing a full-time job. The 48-year-old former city government worker needs to come up with about $60,000 to get it back before it heads to auction.

And she intends to do just that with her secret weapon: Cornbread.

Here’s her explanation:

“With cornbread, everyone likes it. Men, women and children.”

That’s a lot of potpie crusts, souffles, mixes and even bumper stickers, which range in price from $5 to $40, according to the Wall Street Journal. But Beverly is confident that in the end, she’ll reach her goal.

And when she does, there will be a big barbecue to celebrate … the Oscar Mayer Wienermobile has even been requested to be on the scene.

True story.

To buy some of Beverly’s yummy cornbread and to support her cause click here.

Basketball legend Julius “Dr. J” Erving is learning a life lesson on the greens of Atlanta, Ga., which is a far cry from the lessons he taught on the hardwoods of Philadelphia, Pa., throughout much of the late 1970s and 1980s.

The original creator or the “slam” dunk appears to have been hoodwinked in a real estate investment gone bad.

Atlanta Journal Constitution reports that the Hall of Famer trusted his friend and former partner to assume an $11 million loan in 2007 to purchase and operate the Heritage Golf Club in Tucker, which the pair later re-named Celebrity Golf Club International.

Unfortunately, the 27-hole, 20-acre course is only worth about $2 million today. And it’s unable to generate the $75,000 monthly loan obligation.

Foreclosure is, therefore, likely imminent. However, the good doctor, who lost about $5 million on the deal, is apparently taking it all in stride.

His attorney, Dorna Taylor, reveals that Erving will cut his losses and focus on other projects instead.

In fact, he intends to “develop seven courses throughout the world.”

Rock the baby!

Foreclosures nationwide have become so troublesome that now even homeless folks in Atlanta, Ga., are facing eviction.

The Atlanta Journal-Constitution reports that the The Metro Atlanta Task Force for the Homeless, which often provides warm food and shelter for 700 homeless men in the area, recently defaulted on a $500,000 loan payment.

Here’s how it happened, according to Bob Cramer, chairman of the board of the task force:

“The balloon note was due over a year ago but I think it is important to note that all the interest has been paid through February. We were trying to work it out.”

In particular, Cramer is working to renegotiate the loan amount with its current lender, Ichthus Community Trust. However, if a deal can’t be struck in about a month, the current tenants could be forced out onto the streets once again.

We’ll pass along an update on this unfortunate situation if and when it becomes available.

“We’re asking banks to withdraw… Why should banks subsidized by the government and protected by insurance paid for by homeowners put people out on their homes at Christmas?… We know the banks that have loans in the state. We’ll have a roll call.”

The civil rights activist points to Wachovia Bank’s decision in October to place a temporary moratorium on foreclosures, which saved 1,400 homes in the “Peach State” from immediate repossession, as proof that lenders can make compassionate decisions. If not, Jackson intends to vociferously highlight the banks that ignore his most recent request from the steps of the Fulton County Courthouse. Keep hope alive!