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 27 percent increase from the first six months of 2009, but a nine percent decrease from the second half of 2009. Currently, Birmingham ranks 95th out of 206 metros in the U.S. for its foreclosure rate.
A report by CoreLogic shows that metro Birmingham’s rate of foreclosures among outstanding mortgage loans was 1.37 percent in June 2010. This is down from 1.40 percent in May and 1.38 percent in June 2009.
If you or someone you know is facing foreclosure, contact the Birmingham foreclosure defense lawyers of Greenway Bankruptcy Law, LLC at (205) 324-4000 to learn more about your rights.