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.

Paula GreenwayPaula Greenway

Paula Greenway is a native of Birmingham and has focused her practice on consumer bankruptcy since 1996. She is licensed to practice law in all jurisdictions throughout the State of Alabama. Paula has handled over 5,000 bankruptcy cases ranging in complexity throughout her career and prides herself on being able to come up with creative solutions to her clients’ financial issues.