Foreclosures in the Yellowhammer State!
Alabama Real Estate Search - Foreclosures, Pre-foreclosures and Tax Liens
Sign up to receive foreclosures by email
Alabama Related Articles
Bankruptcy and Foreclosure In Alabama
Alabama Foreclosure & Real Estate News
Article Abstract: While foreclosures in Alabama are not some of the highest rates in the country, Alabama bankruptcy rates are. Alabama ranks third in the nation for bankruptcies filed. Alabama foreclosure rates could be contributing to this problem. For the entire Alabama foreclosure and bankruptcy news article, please see the article below:
_________
BIRMINGHAM, Ala. (AP) - Many are working in Alabama, but many also are going broke. Alabama has record low unemployment, but court records show the state ranks No. 3 in the nation for bankruptcy filings.Experts say home foreclosures and surging consumer debt are contributing to the bankruptcy boost. Foreclosure filings in Alabama rose 32 percent in the third quarter compared to the same period in 2006, according to RealtyTrac, a firm that tracks mortgage defaults.
For the year ended September 30th, Alabama averaged five bankruptcy filings per 1,000 people, nearly double the national average of 2-point-62 filings, according to figures from the Administrative Office of U.S. Courts.
Only Tennessee, with 6.2 filings per 1,000 residents, and Georgia, with 5.04 filings, surpassed Alabama.
The American Bankruptcy Institute, which analyzes court data, said Alabama had 17,585 personal bankruptcies in the first nine months of the year, up 24 percent from the same time frame in 2006.
The increase, however, trailed the nation's 50 percent jump.
For more news and related information, please visit our Alabama Foreclosure home page.
Article Source http://wkrg.com/news/article/bankruptcy_in_alabama/7297/
Featured Sponsors:
Advertise your business here!
Signup now and be featured on this page. Upload your photo and link to your website! Sign up NOW!
Related News and Articles:
Citigroup to offer help to 500,000 risky mortgage customers
Citigroup plans on ceasing all foreclosures in an attempt to help the nationwide foreclosure problem. Those facing foreclosure that will be reviewed for assistance must have the home listed as a primary residence.
read more
Alabama's economy faring better than most
While the economy may be fairing well, experts predict foreclosure in Alabama will increase in 2009 when a whole new set of sub-prime loans reset.
read more
Alabama foreclosures climb 73 percent in July
Alabama foreclosure rates continue to rise accroding to sources.
read more
Read past articles in the Article Archive