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Foreclosure activity in Alabama falling

Across the state of Alabama, foreclosure activity has been declining. In the month of May, the number of foreclosures that were filed fell by 20.6 percent from the filings that occurred in April.

According to a mortgage researcher, one in every 1,518 houses were foreclosed on in the month of May. That is a total of 1,431 for the four weeks of May. The national average for foreclosure rates has been rising, and increased nine percentage points from April to May.

In the nation, Alabama is ranked as the 37th state in regards to foreclosure filings. Georgia is the state with the most foreclosures, averaging one for every 224 housing units.

If you are facing foreclosure, you need an experienced foreclosure defense attorney on your side. Please contact the foreclosure defense lawyers of Greenway Bankruptcy Law, LLC by calling (205) 324-4000 today.

Foreclosures across Alabama decline in 1Q

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.

Foreclosure activity continues to fall in 2012

Foreclosure activity has continued to decrease on a year-over-year basis in Alabama in 2012. According to a RealtyTrac report, January’s foreclosure activity was lower than it was a year before.

Last month, 1,489 foreclosure filings were filed throughout the state. This was 9.3 percent lower compared to foreclosure filings filed in January 2011. However, foreclosure filings filed in January 2012 were 33 percent higher than the number filed in December 2011.

A foreclosure was filed for approximately one in every 1,459 homes in Alabama last month. The average foreclosure rate in the U.S. is currently around one in every 624 residences. Alabama ranked as the 38th state with the highest foreclosure rate as of last month.

If you or someone you know is facing foreclosure, contact the Birmingham foreclosure defense lawyers of Greenway Bankruptcy Law, LLC at (205) 324-4000 to learn more about how we can help you.

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.

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.

Foreclosure rate doubled from last year

According to the latest data from Fitch Ratings, foreclosures are almost two times as high as they were at the same time last year.

The agency uses Residential Mortgage-Backed Security, or RMBS, Performance Metric.  Their most recent findings indicate that the rate of foreclosure on homes with delinquent mortgages has increased to 10 percent a month.

Officials say the apparent increase in foreclosures is related to last year’s discovery of problematic procedures in the foreclosure industry like “robo-signing” and the subsequent delay in many foreclosure proceedings.

Experts predict that home prices in the U.S. will drop by about 10 percent in the months to come.

If you or someone you know is facing foreclosure, contact the Birmingham foreclosure defense lawyers of Greenway Bankruptcy Law, LLC at (205) 324-4000 to discuss your situation with one of our attorneys today.

Foreclosure filings up in third quarter

Recent data shows that nationwide foreclosure filings increased in the third quarter of this year.  This is the first quarter that foreclosure filings have increased since the last quarter of 2010.

1 in 213 properties in the United States were foreclosed upon in the third quarter of 2011.  In total, 610,337 properties were repossessed.

Experts predict there will be a total of between 2 million and 2.1 million foreclosures this year, or 30 percent fewer foreclosure than last year.

CEO of RealtyTrac, a real estate statistics provider, James Saccacio says, “There is evidence that this temporary downward trend is about to change direction, with foreclosure activity slowly beginning to ramp back up.”

If your home is being foreclosed upon and you are seeking the help of an experienced attorney, contact the Birmingham foreclosure defense lawyers of Greenway Bankruptcy Law, LLC at (205) 324-4000 to learn more about how we can help you.

Foreclosures down by 29 percent in August

Real estate research firm RealtyTrac recently reported that foreclosure filings experienced a 29 percent year-over-year decrease in Alabama in August.

Last month, a total of 1,358 foreclosures were filed in the state.  711 of the foreclosure filings were notice of trustee sales and 647 of the foreclosure filings were real estate-owned properties.

In addition, 1 in every 1,607 homes in Alabama was in foreclosure, according to last month’s foreclosure data.

Nationwide, foreclosure filings experienced a year-over-year decrease of 32.7 percent in August.

If you or someone you know is facing a foreclosure, an experienced foreclosure defense attorney can help.  Contact the Birmingham foreclosure defense lawyers of Greenway Bankruptcy Law, LLC at (205) 324-4000 today.

Birmingham-Hoover foreclosure rate increasing

A recent report from CoreLogic says that the foreclosure rate in the Birmingham-Hoover metro area is increasing.

In June, the foreclosures in the area increased by 1.67 percent from May.  In addition, June foreclosures in Birmingham-Hoover were 1.43 percent higher than the number of foreclosures in the area in June 2010.

The foreclosure rate for the area is predicted to be about 6.09 percent — lower than both the national foreclosure rate and Alabama foreclosure rate.

Data also revealed that mortgage delinquencies in the area are decreasing.  6.14 percent of mortgage loans in Birmingham were delinquent by 90 days or more.  At the same time last year, the mortgage delinquency rate was 6.77 percent.

If you or someone you know is facing a foreclosure, contact the Birmingham foreclosure defense lawyers of Greenway Bankruptcy Law, LLC at (205) 324-4000 to learn more about how we can help you through the process.

Foreclosure filings down across country

According to the Birmingham Business Journal, foreclosure filings in the U.S. have decreased by 25 percent over the past 6 months.

Furthermore, looking at comparing the first 6 months of 2011 to the first 6 months of 2010, the country has experienced a 29 percent drop in foreclosure filings.

Foreclosure data was complied in RealtyTrac’s Midyear 2011 Foreclosure Market Report.  So far this year, 1,170,420 properties in the U.S. have received foreclosure filings.  These include default notices, bank repossessions, and auction sale notices.

RealtyTrac’s report says that from January through June this year, there have been 14,399 foreclosures in Alabama and 23,095 homes put up for sale.

To discuss defending your property from foreclosure with an experienced attorney, contact the Birmingham foreclosure defense lawyers of Greenway Bankruptcy Law, LLC at (205) 324-4000 today.

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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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