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Foreclosures not at pre-recession levels but still improving

Although more homes were foreclosed in May than pre-recession levels, it is still nearly half the number of foreclosures that occurred in 2011, according to the Orange County Register on July 14.

According to CoreLogic data, approximately 7.8 million homes across the nation have been foreclosed in the last 11 years. This past May is the most recent month with data available; during this month, 41,000 homes in the U.S. were experienced foreclosure. CoreLogic also revealed that 491,000 homes nationwide are currently in different stages of the foreclosure procedure. Despite these seemingly large numbers, May of 2011 saw the foreclosure of 77,000 foreclosures.

The legal team of Greenway Bankruptcy Law, LLC, understands that in Birmingham alone, many homeowners are at risk of losing their homes to foreclosure. If you are in such a situation, our lawyers may be able to offer you legal solutions to save your home. Call our office today at (205) 324-4000 to find out how we may work for you.

Foreclosures increase for high end homes

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.

Number of foreclosures drop in 2013, reaching a six year low

A huge improvement in the U.S. housing market was observed in 2013 after the number of homes entering foreclosure not only continued to decrease, but also hit a six year low, according to real estate information firm RealtyTrac.

A decrease of 31 percent was observed in homes being foreclosure upon or repossessed by banks in 2013 compared to 2012. The record was considered to be lowest since America entered the foreclosure crisis in 2007. The number of home entering foreclosure  also declined in 37 states last year.

However, according to RealtyTrac, in December more than 1.2 million homes across America were either undergoing foreclosure procedures or already repossessed by banks but were still unsold.

The legal team at Greenway Bankruptcy Law, LLC, how difficult it is for homeowners in Birmingham to face the threat of foreclosure. If you are in such a situation, call (205) 324-4000 today to speak with a compassionate attorney who can help you explore your options for keeping your home.         

Alabama Foreclosures Drop in August, Increase in September

The rate of foreclosures in the Birmingham area declined in the month of August, according to a mortgage researcher. The data shows that in August, the rate of foreclosures was 1.62 percent. This percentage was down slightly from August 2011 when the rate of foreclosures in the metro Birmingham area was 1.69 percent.

Foreclosure activity across the state of Alabama was also on the decline during the month of August. The rate in 2011 was recorded at 1.48 percent, and this year the rate was determined to be 1.44 percent. Overall, the city of Birmingham had a lower rate of foreclosure when compared with the nation as a whole.

The rate of foreclosures in August throughout the United States was 3.35 percent. The month of September was a different story for the state of Alabama. A recent report revealed that the number of foreclosure filings in Alabama increased by more than 25 percent in September. There were 1,892 filings reported in September. A different trend was seen across the nation with filings declining during the same month.

Foreclosures can be complicated procedures. If you own a home in Alabama and may be facing foreclosure, you need experienced representation on your side to fight for your rights. Please contact the foreclosure defense attorneys of Greenway Bankruptcy Law, LLC by calling (205) 324-4000 today.

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Greenway Bankruptcy Law, LLC
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