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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.

Fewer mortgage delinquencies in Birmingham

In March, the mortgage delinquency rate in Birmingham saw a decrease from the rate in March 2010.  According to national research firm CoreLogic, 6.93 percent of mortgage loans in Birmingham were 90 days or more overdue in March.  A year before, 7.22 percent of mortgage loans in Birmingham were reported to be delinquent.

The mortgage delinquency rate statewide also decreased when comparing March 2010 and March 2011.  Last year, 6.18 percent of mortgage loans were 90 days or more past due in Alabama.  This year, only 5.63 percent of mortgage loans were past due in the state.  Nationwide, the mortgage delinquency rate decreased from 8.3 percent in March 2010 to 7.54 percent in March 2011.

If you or someone you know has questions about mortgage foreclosure, contact the Birmingham foreclosure defense lawyers of Greenway Bankruptcy Law, LLC at (205) 324-4000 to learn more about protecting your home.

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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.

Greenway Bankruptcy Law, LLC 505 20th St N #1220, Birmingham, AL, 35203 | Phone Number: (205) 324-4000