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.