The rate of foreclosures in the Birmingham area declined in the month of August, according to a mortgage researcher. The data shows that in August, the rate of foreclosures was 1.62 percent. This percentage was down slightly from August 2011 when the rate of foreclosures in the metro Birmingham area was 1.69 percent.
Foreclosure activity across the state of Alabama was also on the decline during the month of August. The rate in 2011 was recorded at 1.48 percent, and this year the rate was determined to be 1.44 percent. Overall, the city of Birmingham had a lower rate of foreclosure when compared with the nation as a whole.
The rate of foreclosures in August throughout the United States was 3.35 percent. The month of September was a different story for the state of Alabama. A recent report revealed that the number of foreclosure filings in Alabama increased by more than 25 percent in September. There were 1,892 filings reported in September. A different trend was seen across the nation with filings declining during the same month.
Foreclosures can be complicated procedures. If you own a home in Alabama and may be facing foreclosure, you need experienced representation on your side to fight for your rights. Please contact the foreclosure defense attorneys of Greenway Bankruptcy Law, LLC by calling (205) 324-4000 today.