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February’s nationwide foreclosure rate declines by 10 percent

A 10 percent decrease in the nationwide foreclosure rate was observed in February when compared to the same month last year, a report of Orlando Business Journal stated on April 12.

According to reports, the recorded foreclosure inventory across the U.S. in February was only 1.1 percent, or 434,000 properties, compared to the 571,000 recorded in the same month last year. Last February’s recorded foreclosure level was considered the lowest in terms of months since 2007. Home owners nationwide, who have struggled to settle their mortgage in 90 days, also declined in February by 19.9 percent. The state of Florida remains in the top spot of the five states identified by CoreLogic with highest foreclosure rates followed by Michigan, Texas, California, and Ohio.

In Birmingham alone, the lawyers of Greenway Bankruptcy Law, LLC understand many families are struggling to settle their monthly mortgage. If you believe that your family’s home is being threatened with foreclosure, we may offer you legal assistance to possibly prevent it from happening. Call us today at (205) 324-4000 to learn more about  your options.

Ex footballer’s property may face foreclosure

The San Fernando Valley property of ex football player Terrell Owens may face foreclosure if he can’t sell the home within the 90-day time period, according to an article from Realty News.

Reports said Owens failed to pay $905,417.06 in mortgages for his 4,250 square-foot Sherman Oaks home. The 41-year-old football superstar listed the property for $2.35 million. The former player for the 49ers and Cowboys originally bought the property for $2.2 million in 2014 with his ex wife, Rachel. Owens recently sold the property for $2.2 million. The football player has a reported net worth of $0.

The lawyers of Greenway Bankruptcy Law, LLC, understand that in Birmingham alone many homeowners are being threatened with foreclosure. If you are in such an unfortunate situation, we may possibly offer you legal options to prevent foreclosure on your home. Find out how we may work on your behalf by calling (205) 324-4000.

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.

Ex En Vogue member threatened with foreclosure

Singer Maxine Jones’ may lose her Virginia home to foreclosure after a federal judge allowed her bank to start the procedure, The St. Louis American stated on February 4.

The 53-year-old En Vogue ex member reportedly has a debt of $212,000 on her residential property in Virginia. The looming foreclosure came after Jones defaulted on her monthly mortgage in October and November 2014. Maxine reportedly filed for Chapter 7 Bankruptcy on December 18 due to additional debts that included private school, legal fees, and state taxes in Virginia and California. Maxine split with the R&B quartet group in 2012.

If your home is being threatened with foreclosure in Birmingham, the lawyers at the Greenway Bankruptcy Law, LLC may work for you. We may be able to help you prevent your home from being taken even if you are experiencing financial hardships. Learn more about your options today by calling (205) 324-4000.

Steps to recover from foreclosure

Fox News shared some tips on January 23 offering advice on how to spring back from a foreclosure experience.

• After a foreclosure, borrowers should fix their credit by continuously using their credit and make it a point to pay on time. Lenders may grant loans to borrowers who work to build a continuous and reputable credit history.

• After foreclosure, previous homeowners may need to wait for years before they can qualify for loans from lenders. However, the duration of the waiting period may possibly be reduced if the foreclosure was a result of losing a job unexpectedly or the death of a family member.

• After a foreclosure, borrowers should diligently settle their taxes. People may avoid hefty foreclosure taxes if they prove that they are completely broke or if they seek bankruptcy protection.

The lawyers of Greenway Bankruptcy Law, LLC, know that many homeowners in Birmingham have lost their homes to foreclosure. If you believe your home is being threatened with the same process, our lawyers may work with you to prevent it from happening. Find out how we may help you safeguard your home today by calling (205) 324-4000.

Atlanta rapper’s mansion lost to foreclosure

Well-known hip hop artist and music producer Jermaine Dupri failed to pay his mortgage, resulting in foreclosure proceedings, a December 11 article by WSB-TV 2 stated.

Reports said the Atlanta native musician defaulted $2.5 million on his 9,441 sq/ft mansion in Fulton County. Though Dupri, 42, tried his best to prevent his mansion from being foreclosed, he reportedly failed to pay his monthly dues. Proceeds from the sale of Dupri’s mansion will cover his debts, including legal fees associated with the procedure. According to property documents, the mansion where Dupri lived for nearly a decade has an estimated property value of $3.7 million and holds 19 rooms.

The lawyers of Greenway Bankruptcy Law, LLC, understand that in Birmingham alone, many homeowners are threatened with losing their homes to foreclosure. If you are in such a difficult situation, our diligent lawyers may offer you legal advice to defend your home. Discuss your situation with us today at (205) 324-4000 to find out how we may help you.

Increase in nationwide foreclosure activity in October

National Mortgage Professional reported on November 13 that U.S. foreclosure activity grew by 15 percent in October.

Recent data supplied by RealtyTrac showed that a total of 123,109 homes in the U.S. were in different stages of foreclosure in October, making it the highest monthly recorded since early 2010. Repossessed homes increased by 22 percent compared to September. The number of foreclosed homes heading to auction increased in October by 24 percent in 29 states, including Alabama. Though October’s recorded foreclosure filings increased, RealtyTrac stated that it is still lower by 8 percent compared to last year.

The attorneys at Greenway Bankruptcy Law, LLC, in Birmingham understand that financial struggles can make you feel helpless and overwhelmed. When these difficulties result in the threat of your home, this feeling is only exacerbated. Fortunately, however, there may be methods to defend your home. Call our offices at (205) 324-4000 today to learn about your possible legal options for foreclosure defense.

DMX avoided foreclosure after paying $250,000

An October 19 article by the Chicago Defender stated that rap artist and actor DMX paid $250,000 to prevent his Mount Kisco, New York family home from being foreclosed on.

The 43-year-old rapper reportedly was sued by Compass Bank last year for failing to settle a mortgage loan worth $500,000 that he borrowed in 2004. The bank then demanded the foreclosure of DMX’s home after accusing him of not wanting to pay the loan. The rapper, whose real name is Earl Simmons, paid the necessary amount after Compass failed to continue pursuing him in the lawsuit. DMX acquired the $649,000 house back in 2000.

Being threatened by foreclosure can be frightening, especially if you do not know which options to consider next. If you are experiencing this, enlisting a skilled lawyer could be crucial to learning about the legal options available to you. Find out how the Birmingham lawyers of Greenway Bankruptcy Law, LLC, may prevent your home from experiencing foreclosure by calling (205) 324-4000 today.

Nationwide foreclosure activity the lowest since 2006

A recent report released by RealtyTrac said that nationwide foreclosure activity was the lowest since the U.S. was plagued by the foreclosure crisis, an article by the World Property Channel stated on July 17.

Last June, there were 613,874 homes recorded in the U.S. in different stages of foreclosure procedures. The recent data was reportedly lower by 23 percent compared to the first half of last year. Also in June, a 4 percent decrease in foreclosures was observed, and bank repossessions decreased by 5 percent compared to the month before. Though overall foreclosure continues to improve, RealtyTrac stated that at least 15 states last month experienced an increase in foreclosure activity.

Though the U.S. foreclosure rate continues to improve, many homeowners are still having troubles honoring their mortgage obligations due to financial difficulties. If you are struggling to avoid foreclosure in Birmingham, the lawyers at Greenway Bankruptcy Law, LLC, may offer you legal solutions to help defend your home. Learn more about how our legal team can help by calling (205) 324-4000 today.

U.S. foreclosure activity steadily decreased in the last 8 years

A recent report by real estate firm RealtyTrac stated that there has been a steady decline in foreclosure activity in the last eight years, CNBC reported on June 10.

Reports said that in May, banks acquired fewer homes and property owners filed for fewer foreclosures than in the past eight years. At least 109,824 homes nationwide were recorded in foreclosure procedures in May, a decline of 6 percent from April. Nationwide, records showed that banks only acquired 28,373 homes in May, and at least 47,085 homes were auctioned–both numbers the lowest since 2007. RealtyTrac Vice President Daren Blomquist is optimistic that the foreclosure rate will continue to decline.

Unfortunately, the lawyers at Greenway Bankruptcy Law, LLC, understand that in Birmingham alone, many homeowners are still plagued by foreclosure crisis. If you are in a situation like this, other legal options may be available to you to protect your home. Speak with us today at (205) 324-4000 to learn more about your options.

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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