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Amount of first quarter foreclosures decreases

Posted on April 19th, 2014 No Comments

RealtyTrac recently reported that the U.S. housing market has recovered considerably since the 2008 economic downturn. This month, the housing market observed the lowest statistics regarding foreclosure activity since 2007.

Reports said that since March, lenders acquired nearly 29,000 homes nationwide, which is a 23% decrease compared to previous years before 2007. Factors like increasing housing cost and rising homeowners with fewer defaults contributed to the recently observe foreclosure recovery.

Though foreclosure crisis in United States continues to improve, the attorneys at Greenway Law, LLC. understand that many homeowners in Birmingham still experience stress when financing their property. To evaluate your legal options and obtain help with foreclosure defense call our offices at (205) 324-4000 today.


Agency reports that payday loans can be financially destructive

Posted on April 3rd, 2014 No Comments

A recent federal report indicates that many of the people that borrow payday loans are often trapped into debt because of the loans’ high interest rates.

The report released by the U.S. Consumer Financial Protection Bureau showed that more than 80% of short-term loan borrowers either delayed paying the loan, or took out an additional loan.

In order to protect yourself from debt, financial planner, Gary Schatsky suggests that people put temporary expenses on a credit card or borrow money from a family member or friend instead getting a payday loan.

Facing financial troubles can be extremely stressful. If you are struggling with debt, you may be able to benefit from the knowledge of an attorney. The lawyers of Greenway Law, LLC., assist Birmingham people that face financial difficulties. Call our offices today at (205) 324-4000 to speak with a knowledgeable professional about your options.


U.S. foreclosure rate reaches its lowest since 2006

Posted on March 19th, 2014 No Comments

Recent data from real estate research firm RealtyTrac shows that the number of U.S. homes in foreclosure last month marks the lowest since 2006, Forbes reported on March 13.

According to the data from February, at least 112,498 properties nationwide were in various phases of foreclosure proceedings, the lowest number since December 2006. Properties that started to enter foreclosure proceeding were also the lowest since the U.S. housing industry was struck by a crisis with only 51,842 properties with default notices recorded.

Though most states are observed to be recovering from the foreclosure crisis, RealtyTrac said there were at least 14 states last month that had an increase in homes entering foreclosure.

Though most states in the U.S. are continuing to recover from the foreclosure crisis, a lot of people in Birmingham are still facing the threat of losing their home. At Greenway Law, LLC, our legal team is here to help people facing this situation explore options for keeping their home. Call (205) 324-4000 to find out how we can help you work through your financial problems and possibly keep your home.

Rapper’s $1 million NY property facing foreclosure

Posted on February 28th, 2014 No Comments

Rapper Earl Simmons, commonly known as DMX, is currently losing his $1 million property in Mount Kisco, New York to foreclosure.

Simmons blames his estranged wife for the foreclosure, saying that she didn’t take responsibility for the mortgages, as previously agreed upon. Though DMX hasn’t lived in the property since 2005, he continued paying the mortgage through 2008.

Before facing foreclosure, Simmons experienced some financial trouble. He recently filed for bankruptcy, but was denied.

The attorneys at Greenway Law, LLC., understand that many Birmingham residents face foreclosure. The legal advice of a lawyer could alleviate the stress and financial burden of foreclosure. To contact an experienced lawyer, call (205) 324-4000


Number of foreclosure filings decrease by 18 percent from 2013 to 2014

Posted on February 23rd, 2014 No Comments

An 18 percent dip in the number of U.S. homes that filed for foreclosure was noted from January 2013 to January 14, according to RealtyTrac.

Though last month there was a 10 percent increase from December to January in the number of homes that entered foreclosure proceedings, this was still 12 percent lower compared to numbers from January 2013. On the other hand, homes that had completed the foreclosure process last month also dropped by 40 percent compared to last year’s data.

At the national level, at least one in every 1,058 homeowners filed for foreclosure last January.

Though the foreclosure crisis in America continues to decline, the legal team at Greenway Law, LLC, understands that a lot of homeowners in Birmingham are still being threatened by foreclosure every year. If you want to explore your foreclosure defense options with our knowledgeable attorneys, call (205) 324-4000 today.

Ex-Baywatch actress seeks bankruptcy protection

Posted on February 5th, 2014 No Comments

Nicole Eggert, who is well-known for her Baywatch role, recently filed for Chapter 13 bankruptcy to protect her property.

According to reports, the 42-year-old actress will have an opportunity to continue paying her mortgage to prevent her house from being liquidated. Under the plan, Eggert will pay $1,071.43 monthly for the first year to the bank, in addition to $800 monthly to creditors. After that, the next two years she will be required to pay $1320 monthly to the bank.

Nicole listed $1,070,400 worth of assets while her liability listed was $807,115. She also stated in the filing that she has monthly expenses of more than $20,000.

This bankruptcy filing is her third attempt in less than a year, with the two previous claims being rejected.

The legal team at Greenway Law, LLC, helps people in Birmingham who are currently facing financial troubles explore their options for getting back on a strong financial footing. Discuss your financial situation and what the best option for alleviating your debt may be by calling (205) 324-4000.

Number of foreclosures drop in 2013, reaching a six year low

Posted on January 20th, 2014 No Comments

A huge improvement in the U.S. housing market was observed in 2013 after the number of homes entering foreclosure not only continued to decrease, but also hit a six year low, according to real estate information firm RealtyTrac.

A decrease of 31 percent was observed in homes being foreclosure upon or repossessed by banks in 2013 compared to 2012. The record was considered to be lowest since America entered the foreclosure crisis in 2007. The number of home entering foreclosure  also declined in 37 states last year.

However, according to RealtyTrac, in December more than 1.2 million homes across America were either undergoing foreclosure procedures or already repossessed by banks but were still unsold.

The legal team at Greenway Law, LLC, how difficult it is for homeowners in Birmingham to face the threat of foreclosure. If you are in such a situation, call (205) 324-4000 today to speak with a compassionate attorney who can help you explore your options for keeping your home.         

Eddie Montgomery filed for Chapter 7 bankruptcy

Posted on January 7th, 2014 No Comments

Eddie Montgomery of the famous country music duo, Montgomery Gentry, sought personal bankruptcy protection at the end of December.

Montgomery, 50, filed for Chapter 7 bankruptcy after accruing a large amount of debt due to his recent divorce and the failure of his steakhouse. Montgomery’s $13.4 million debt is only offset by $1.9 million in assets.

Montgomery will sell the Harrodsburg steak house on January 10 to help pay for his debts. A house in Boyle County owned by Eddie and his former wife, Tracy Nunan, will also be sold to offset debt.

Our experienced lawyers understand that many people living in Birmingham face financial hardship. Contact Greenway Law, LLC., if you are in need of legal financial advice. Give our offices a call at (205) 324-4000 to learn more about the services that we can provide for you.


U.S. foreclosure crisis nearing end

Posted on December 18th, 2013 No Comments

A decline in foreclosure activity in a majority of the states in America was observed by RealtyTrac, a real estate research company, last month, a report by USA TODAY stated on Thursday, December 12.

RealtyTrac said foreclosure activity last November decreased by 37 percent compared to the same month last year. The decline in homeowners entering foreclosure proceedings last month was also the lowest since 2005.

Daren Blomquist of RealtyTrac said the decrease in the foreclosure activity recorded last November indicates that the foreclosure crisis is about to end. Trulia real estate economist Jed Kolko also said that states with long foreclosure procedures are the ones facing the greatest foreclosure issues.

Sadly, a lot of homeowners in America are still being threatened by foreclosure. However if you are facing the potential loss of your home in Birmingham, a lawyer from Greenway Law, LLC, can help you explore your legal options for possibly keeping your home. Find out how we may help you today by calling (205) 324-4000.        

Aaron Carter files for bankruptcy

Posted on December 1st, 2013 No Comments

Pop artist Aaron Carter recently sought bankruptcy protection due to a debt of more than $2 million, a majority of which was unpaid back taxes, an article from CNN reported on Friday, November 22.

According to the bankruptcy petition filed by Carter, the former teen sensation owed at least $1.3 million of unpaid taxes to the Internal Revenue Service. Aaron, who admitted to being broke, has an personal property estimated to be worth $8,200 and less than $1,000 in his checking and savings accounts.

Aaron’s publicist Steve Honig said the pop star is moving forward and this choice was a positive move for him.

Sadly, as our team at Greenway Law, LLC, knows, many people in Birmingham are needlessly suffering from the anxiety of having an overwhelming amount of debt. For those in this situation, bankruptcy might be a viable option to address the debts and get a fresh financial start. Call (205) 324-4000 to discuss your financial situation and what legal options are available to you.

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Greenway Law LLC. All rights reserved. We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code. The following language is required pursuant to Rule 7.2, Alabama Rules of Professional Conduct. No representation is made that the quality of legal services to be performed is greater than the quality of legal services performed by other lawyers. This web site is designed for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship.

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