In March, the mortgage delinquency rate in Birmingham saw a decrease from the rate in March 2010. According to national research firm CoreLogic, 6.93 percent of mortgage loans in Birmingham were 90 days or more overdue in March. A year before, 7.22 percent...
Foreclosure Defense
Reports show drop in number of Alabama foreclosures
A report by RealtyTrac recently found that the rate of home foreclosures in Alabama is dropping steadily.The reports stated that the rate of foreclosures for the month of April dropped 24 percent from April of last year. Only 1,840 properties in Alabama...
House Ends Foreclosure Defense Programs
Foreclosure defense programs that were put into action by the Obama administration in 2007 are now being abandoned by many in the House and Senate who say that the programs cause homeowners more harm than good.Votes in the House proved to be partisan, as Republicans...
Homeowners Receive Assistance to Reduce Foreclosures
Governor Bentley of Alabama has created a program that would help to prevent future home foreclosures by assisting homeowners with their mortgages. The federally funded program will aid families for up to 12 months and will be short-term, one-time...
A report released this month estimates over 11 million homeowners in the US have underwater mortgage
A report released this month estimates over 11 million homeowners in the United States have underwater mortgages.The new report, released by the data aggregator CoreLogic, says the number of homeowners who owe more on their mortgage than their homes are worth declined...
Democratic lawmakers call for halt on foreclosures
A large number of Democratic legislators, including Arizona Congresswoman Gabrielle Giffords and U.S. Senate Majority Leader Harry Reid, D-Nev., this week called on lenders to freeze foreclosures after Bank of America did so last Friday. BofA’s decision to do so came...
Foreclosures falling slightly in Birmingham
In a report by the mortgage researcher RealtyTrac, metro Birmingham seems to be seeing the beginnings of a decline in foreclosure rates.In the first six months of 2010, there were 4,857 foreclosure filings- equivalent to one in every 104 housing units. This is a...
Properties Abandoned by Owners, Now Lenders
The Wall Street Journal reports that, across the country, home values are falling well below the price of the mortgage. Many of these owners are abandoning the properties. According to The Wall Street Journal, “Now, in the case of one defunct mortgage lender, the...
Nationwide foreclosures down
According to a recent report by RealtyTrac Inc., foreclosure filings have finally begun to level off nationwide.Filings are down 2 percent overall nationwide, with certain states like New York seeing drops as large as 20 percent. April is the first month of the year...
Foreclosure numbers increase nationwide
A RealtyTrac Inc. report has revealed a rising trend in home foreclosure filings. One in 465 homes in the Houston, TX, area was foreclosed on in March, a number that is 53 percent higher than last year’s March filings. The number of homes that recieved foreclosure...