Georgia Foreclosure Homes

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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.

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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!

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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.

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jackson

… at least until the 2009 holiday season is in the rear view mirror, according to the Atlanta Journal-Constitution:

“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!

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