Posted on March 16th, 2015
According to recent data released by CoreLogic, many high end homes are undergoing foreclosure procedures even as the overall foreclosure rate continues to improve, The Wall Street Journal stated on March 5.
Though overall foreclosure rates at the end of 2014 reduced by 1.4 percent, luxury homes with mortgages of $750,000 or higher have increased by 2.5 percent. The trend of increasing foreclosure rate in homes with high mortgages started in March 2008 as the country was hit by a foreclosure crisis. A CoreLogic economist explained that wealthier homeowners were affected by the depleting stock market.
When your home is threatened by foreclosure, the situation can be devastating, especially considering any reduced financial flexibility. If you are in such a situation, a foreclosure lawyer may possibly give you other options that could allow you to keep your home. Find out how the Birmingham lawyers of Greenway Bankruptcy Law, LLC, may work for you today by calling (205) 324-4000.
Posted on February 25th, 2015
Real estate data provider RealtyTrac revealed on February 12 that foreclosed properties in the U.S. climbed by 5 percent over the past month–making it the highest increase in the last 15 months, Business Insurance reported.
Daren Blomquist of RealtyTrac stated that foreclosure filings are expected to increase in the next few months, as banks tend to increase “spring cleaning” in most states. Just last month, banks repossessed 37,292 residential properties. There were 51,782 houses in January headed for foreclosure auctions. The number of houses that are undergoing foreclosure procedures nationwide, on the other hand, reduced by 4 percent compared to the recorded data in 2014. RealtyTrac still identifies Florida in January as the state with highest levels of foreclosure.
In Birmingham alone, the Greenway Bankruptcy Law, LLC, lawyers believe that many people are struggling to prevent their homes from being foreclosed. If you are experiencing this, we may work for you to defend your home. Call us today at (205) 324-4000 to find out how we may help you through this stressful situation.
Posted on February 10th, 2015
Singer Maxine Jones’ may lose her Virginia home to foreclosure after a federal judge allowed her bank to start the procedure, The St. Louis American stated on February 4.
The 53-year-old En Vogue ex member reportedly has a debt of $212,000 on her residential property in Virginia. The looming foreclosure came after Jones defaulted on her monthly mortgage in October and November 2014. Maxine reportedly filed for Chapter 7 Bankruptcy on December 18 due to additional debts that included private school, legal fees, and state taxes in Virginia and California. Maxine split with the R&B quartet group in 2012.
If your home is being threatened with foreclosure in Birmingham, the lawyers at the Greenway Bankruptcy Law, LLC may work for you. We may be able to help you prevent your home from being taken even if you are experiencing financial hardships. Learn more about your options today by calling (205) 324-4000.
Posted on February 3rd, 2015
Fox News shared some tips on January 23 offering advice on how to spring back from a foreclosure experience.
• After a foreclosure, borrowers should fix their credit by continuously using their credit and make it a point to pay on time. Lenders may grant loans to borrowers who work to build a continuous and reputable credit history.
• After foreclosure, previous homeowners may need to wait for years before they can qualify for loans from lenders. However, the duration of the waiting period may possibly be reduced if the foreclosure was a result of losing a job unexpectedly or the death of a family member.
• After a foreclosure, borrowers should diligently settle their taxes. People may avoid hefty foreclosure taxes if they prove that they are completely broke or if they seek bankruptcy protection.
The lawyers of Greenway Bankruptcy Law, LLC, know that many homeowners in Birmingham have lost their homes to foreclosure. If you believe your home is being threatened with the same process, our lawyers may work with you to prevent it from happening. Find out how we may help you safeguard your home today by calling (205) 324-4000.
Posted on January 21st, 2015
In a proposed bill, U.S. Senator Sherrod Brown suggested allowing families to withdraw money they would have received on their tax return, thereby allowing them to avoid the high interest of predatory payday loans, 1370 WSPD reported on January 19.
According to the proposed bill, instead of resorting to payday loans, which quickly sink many families into debt as they struggle to pay on interest, employees who qualify for Earned Income Tax Credit (EITC) may acquire cash advances from their employers, which would then be withdrawn from their tax return. Senator Brown’s move reportedly would help millions of Americans burdened by debt from short-term loans. Employees may get a cash advance for as much as $500. The cash advance to employees would be paid by the Internal Revenue Service (IRS) to the employer.
In Birmingham alone, the legal team of Greenway Bankruptcy Law, LLC, understands that many employees are burdened with debts from the high interest rates imposed by payday loan companies. If you are in such a situation, our lawyers may also offer you legal options to alleviate your financial problems. Call our office today at (205) 324-4000 to find out how we may work for you.
Posted on January 8th, 2015
Credit card holders who have splurged during the holiday season may consider the following tips to possibly lessen the headaches come repayment time, a Market Watch article stated on January 5 .
• Credit card holders may want to pay their cards with the highest interest rates first followed by other cards with low interest rates. Individuals who do this not only improve their credit score but also get lower interest rates on their future transactions.
• On the other hand, individuals who need a little encouragement may want to prioritize paying their cards with lower interest rates.
• Reputable card holders with a solid history who are struggling financially may ask their issuer to lower their interest rates.
• Another option for reputable card holders is to move their balance from one card to another. Moving balance from a card with high interest rate to card with lower rate can be beneficial.
• For card holders who like to budget, another option is to pay their card’s monthly due slightly above the minimum to reduce the payment duration and interest rates.
Though the following tips are helpful in managing credit card debt, working with a lawyer is also beneficial mostly if you believe your debts are already unmanageable. Find out how the Birmingham lawyers of Greenway Bankruptcy Law, LLC may possibly help you with your debt today by calling (205) 324-4000.
Posted on December 29th, 2014
Well-known hip hop artist and music producer Jermaine Dupri failed to pay his mortgage, resulting in foreclosure proceedings, a December 11 article by WSB-TV 2 stated.
Reports said the Atlanta native musician defaulted $2.5 million on his 9,441 sq/ft mansion in Fulton County. Though Dupri, 42, tried his best to prevent his mansion from being foreclosed, he reportedly failed to pay his monthly dues. Proceeds from the sale of Dupri’s mansion will cover his debts, including legal fees associated with the procedure. According to property documents, the mansion where Dupri lived for nearly a decade has an estimated property value of $3.7 million and holds 19 rooms.
The lawyers of Greenway Bankruptcy Law, LLC, understand that in Birmingham alone, many homeowners are threatened with losing their homes to foreclosure. If you are in such a difficult situation, our diligent lawyers may offer you legal advice to defend your home. Discuss your situation with us today at (205) 324-4000 to find out how we may help you.
Posted on December 16th, 2014
Paying for student loan debt and financing for higher education are a primary concerns for teenagers, an article of ACA International said on December 5.
In the survey conducted at Northeastern University in Boston, more than half of the teen respondents age 16 to 19 are worried about financing their chosen degree in college. Other respondents said that they are not willing to take on any debt. Though many participants said that though they are concerned of having these financial obligations, the majority believe that taking on this burden is necessary to attend college and go on to secure a career of their choice.
Having student loan debt may be overwhelming for many in our current economy. However, if you are overwhelmed by your student loan debt in Birmingham, the attorneys of Greenway Bankruptcy Law, LLC may possibly help you. Consult with us today at (205) 324-4000 to learn more about your options.
Posted on December 4th, 2014
National Mortgage Professional reported on November 13 that U.S. foreclosure activity grew by 15 percent in October.
Recent data supplied by RealtyTrac showed that a total of 123,109 homes in the U.S. were in different stages of foreclosure in October, making it the highest monthly recorded since early 2010. Repossessed homes increased by 22 percent compared to September. The number of foreclosed homes heading to auction increased in October by 24 percent in 29 states, including Alabama. Though October’s recorded foreclosure filings increased, RealtyTrac stated that it is still lower by 8 percent compared to last year.
The attorneys at Greenway Bankruptcy Law, LLC, in Birmingham understand that financial struggles can make you feel helpless and overwhelmed. When these difficulties result in the threat of your home, this feeling is only exacerbated. Fortunately, however, there may be methods to defend your home. Call our offices at (205) 324-4000 today to learn about your possible legal options for foreclosure defense.
Posted on November 19th, 2014
Ginuwine, a prominent R&B singer during the late ’90s and the early 2000s, may possibly file for bankruptcy, an article on Daily News stated November 10.
The 44-year-old singer Ginueine, or Elgin Baylor Lumpkin, allegedly owes $1.25 million to Robert Reives from the five albums he worked on as executive producer. Ginuwine’s financial trouble was revealed by his attorney with whom he also has large unsettled debts. A recent hearing revealed that Ginuwine also has an estimated $300,000 in back income taxes and large personal debts. His lawyer said Ginuwine’s money problem began after him and his wife Solé divorced recently.
Dealing with financial problems can be frightening and stressful, especially if you feel like you have exhausted all of your options. Though, if you facing such difficulty in Birmingham, the lawyers of Greenway Bankruptcy Law, LLC may offer you workable solutions to recover from your debt. Find out how we may help you today by calling (205) 324-4000.