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 filed in Alabama last year.  The rate of foreclosure for 2011 was about 1 in every 132 homes.

Last month, foreclosures filings decreased by 24.3 percent from November, with a total of 1,122 foreclosures in the state.

Across the country, the foreclosure rate decreased by 34.3 percent, with 1.9 million foreclosures filed in the U.S. in 2011.  On average, foreclosures were filed at a rate of about 1 in every 69 homes.

If you or someone you know is facing a foreclosure, contact the Birmingham foreclosure defense attorneys of Greenway Bankruptcy Law, LLC by calling (205) 324-4000.

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.