Last week, in negotiations with lawyers for bond insurer Syncora Guarantee, Jefferson County agreed to increase their debt payments. The insurer says their survival is being threatened by the county’s small payments.Last year, Jefferson County attorneys agreed to pay...
Birmingham Bankruptcy
Foreclosure activity continues to fall in 2012
Foreclosure activity has continued to decrease on a year-over-year basis in Alabama in 2012. According to a RealtyTrac report, January’s foreclosure activity was lower than it was a year before.Last month, 1,489 foreclosure filings were filed throughout the state....
Mortgage delinquencies and foreclosures decrease in Birmingham
According to foreclosure research company CoreLogic, foreclosures and mortgage delinquencies decreased in Birmingham in November.In November, the foreclosure rate on outstanding mortgage loans in the metro Birmingham area was 1.58 percent. The foreclosure rate...
Personal bankruptcies decrease in 2011
Last week, the National Bankruptcy Research Center announced that personal bankruptcies decreased by 12 percent in 2011. A total of 1.35 million people in the U.S. filed for Chapter 7 or Chapter 13 bankruptcy last year.In 2010, about 1.5 million people filed for...
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...
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...
Alabama Aircraft Industries submits reorganization plan
This week, Alabama Aircraft Industries Inc. submitted a reorganization plan that proposes selling the majority of their assets to Kaiser Group Holding out of Virginia for $500,000.Chief Executive of the military aircraft modification company operating out of...
Jefferson County has 80% chance of filing for bankruptcy
The Jefferson County commissioner has announced that the county has an 80 percent chance of filing for bankruptcy.The commissioner made this announcement after a day full of meetings with bankruptcy lawyers. She is now the first democrat that supports the plan for the...
Personal bankruptcies decrease in 2011
709,303 personal bankruptcies were filed between January 1, 2011 and June 30, 2011. This is 7.9 percent fewer than the number of personal bankruptcies filed in the same time period in 2010.According to the American Bankruptcy Institute, 2010 had the highest...
More government employees eligible to choose chapter 7
Many governmental entities across the country, at both the state and local level, are struggling to balance their budgets after the economic crisis. In an attempt to balance budgets, many government workers are experiencing salary deductions, higher...