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Mortgage delinquencies and foreclosures decrease in Birmingham

According to foreclosure research company CoreLogic, foreclosures and mortgage delinquencies decreased in Birmingham in November.

In November, the foreclosure rate on outstanding mortgage loans in the metro Birmingham area was 1.58 percent.  The foreclosure rate in Birmingham was 1.81 percent in November 2010.  The national foreclosure rate in November 2011 was 3.41 percent.

Mortgage delinquencies in the area also decreased, with 6.22 percent of loans 90 or more days delinquent.  In November 2010, 6.64 percent of mortgage delinquencies in Birmingham were 90 or more days delinquent.

If you have questions about defending yourself against foreclosure, contact the Birmingham foreclosure defense attorney, Paula Greenway, at (205) 324-4000 to learn more today.

Hundreds injured, homes damaged in Birmingham storms

Early Monday morning, severe thunderstorms and tornadoes passed through Birmingham, Alabama.

Officials reported that the storms left at least 100 people injured, and more than 210 homes damaged in Jefferson County.  2 people died in the tornado that hit Birmingham at around 3:30 a.m.

In the aftermath of the storms, authorities believe 36,000 people were without power, and hundreds of people were trapped inside homes and buildings.  So far, 7 counties in the state have reported damage from the storms.

This week’s storms have been especially difficult as the state is still trying to recover from the 240 tornadoes that destroyed much of Alabama and took hundreds of lives in April 2011.

The Birmingham bankruptcy lawyers of Greenway Bankruptcy Law, LLC are sorry for the losses experienced in this week’s storms.  To read more about this story, see AFP.

Foreclosure rate down by 21 percent in Alabama in 2011

According to a recent report by foreclosure research firm RealtyTrac, the rate of foreclosure in Alabama was 21 percent lower in 2011 than in 2010.  Last year, Alabama had the 31st lowest foreclosure filing rate in the country.

In total, 16,487 foreclosures were filed in Alabama last year.  The rate of foreclosure for 2011 was about 1 in every 132 homes.

Last month, foreclosures filings decreased by 24.3 percent from November, with a total of 1,122 foreclosures in the state.

Across the country, the foreclosure rate decreased by 34.3 percent, with 1.9 million foreclosures filed in the U.S. in 2011.  On average, foreclosures were filed at a rate of about 1 in every 69 homes.

If you or someone you know is facing a foreclosure, contact the Birmingham foreclosure defense attorneys of Greenway Bankruptcy Law, LLC by calling (205) 324-4000.

Personal bankruptcies decrease in 2011

Last week, the National Bankruptcy Research Center announced that personal bankruptcies decreased by 12 percent in 2011.  A total of 1.35 million people in the U.S. filed for Chapter 7 or Chapter 13 bankruptcy last year.

In 2010, about 1.5 million people filed for personal bankruptcy.  While about 1 in every 150 Americans filed for bankruptcy in 2010, about 1 in every 175 Americans filed for bankruptcy in 2011.

Last year, Chapter 7 bankruptcies filed in the U.S. deceased by 17 percent, and Chapter 13 bankruptcies decreased by 25 percent.  Chapter 7 and Chapter 13 bankruptcies are the most common types of bankruptcy in the U.S.

Bankruptcy filings increased slightly in late 2011.  Because of this, experts expect to see growth in bankruptcy filings in 2012.

To learn more about the benefits of filing for personal bankruptcy, contact the Birmingham personal bankruptcy attorney, Paula Greenway, at (205) 324-4000 today.

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505 20th St N #1220
Birmingham, AL, 35203
Phone: (205) 324-4000
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Greenway Bankruptcy Law, LLC All rights reserved. We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code. The following language is required pursuant to Rule 7.2, Alabama Rules of Professional Conduct. No representation is made that the quality of legal services to be performed is greater than the quality of legal services performed by other lawyers. This web site is designed for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship.

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