Yesterday, actor Gary Busey filed for Chapter 7 bankruptcy in California. The 67-year old starred in movies for 45 years before appearing on reality television shows like “Celebrity Rehab,” “Celebrity Apprentice,” and “Celebrity Wife Swap.”According to Busey’s...
Greenway Bankruptcy Law
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...
Hundreds injured, homes damaged in Birmingham storms
Early Monday morning, severe thunderstorms and tornadoes passed through Birmingham, Alabama.Officials reported that the storms left at least 100 people injured, and more than 210 homes damaged in Jefferson County. 2 people died in the tornado that hit Birmingham...
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 rate down by 21 percent in Alabama in 2011
According to a recent report by foreclosure research firm RealtyTrac, the rate of foreclosure in Alabama was 21 percent lower in 2011 than in 2010. Last year, Alabama had the 31st lowest foreclosure filing rate in the country.In total, 16,487 foreclosures were...
Teachers in Alabama prohibited from accepting gifts
With many school districts beginning their winter breaks and students preparing for the holidays, teachers should be aware that a new law in Alabama prohibits them from accepting gifts of monetary value.In many places, students giving teachers gifts for the holidays...
AMR Corp. files for bankruptcy
Last week, AMR Corp., owner of American Airlines, filed for Chapter 11 bankruptcy at the U.S. Bankruptcy Court for the Southern District of New York.AMR said that filing for bankruptcy is the best thing for the company and their customers at this time. American...
Jefferson County files for bankruptcy
Last week, Jefferson County commissioners voted 4-1 to file for bankruptcy. The bankruptcy filing is reportedly the largest bankruptcy petition filed by a municipality in the history of the U.S.The filing was made on Thursday. A federal judge in Birmingham...
Solar-power equipment manufacturer files for Ch. 7
Sterling Energy Systems Inc., a manufacturer of solar-power equipment, recently filed for Chapter 7 bankruptcy. The company is based in Scottsdale, Arizona.Executives with Sterling Energy Systems say that rising costs, low demand, and trouble raising funds has...
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...