A research firm specializing in foreclosures has reported that foreclosures in the state of Alabama declined during the first quarter of 2012.
The foreclosures declined by 18.6 percent in Alabama, as compared to the first quarter in 2011, and totaled 4,534 applications for the first quarter of 2012. The results of the research regarding national filings for foreclosure revealed that the overall foreclosure rate fell by 16 percent, when compared to the same quarter from the previous year.
According to several experts, this number may be increasing in the very near future. Alabama banks are expecting foreclosure filings to increase dramatically due to the $25 billion mortgage settlement that was announced in February.
If you have questions regarding foreclosures, please contact the Birmingham foreclosure defense lawyers of GREENWAY BANKRUPTCY LAW, LLC by calling (205) 324-4000 today.