ATL foreclosure rates at all-time high

Thirteen counties make up metro-Atlanta where nearly 7,000 homes will go on the auction block in November, with an estimated property value of more than one billion dollars. The number of homes in foreclosure is up almost 40 percent from just a month ago.

Equity Depot in suburban Atlanta has tracked the area's foreclosure rate for more than a decade. A company spokesperson says it's the largest month to month swing his company has seen.

In Fulton County, home to nearly 1-million people – around 2,000 properties face foreclosure. That's more than any other county in metro Atlanta. Recently, Beazer Homes -- one of the region's top builders -- has cut its prices for new homes. And experts predict an industry wide domino effect as failed sub prime loans topple home prices.