Home Foreclosures Soar

Alabama Economy Foreclosure filings in July jumped 73 percent but Alabama still has one of the lowest foreclosure rates in the nation.
by The Associated Press
Published: Thu, August 14, 2008 - 12:35 pm CST
BIRMINGHAM, Ala. (AP) - Foreclosure filings in July in Alabama
jumped 73 percent over the same month a year ago, but the state
still has one of the lowest foreclosure rates in the nation.
The RealtyTrac report released Thursday shows there were filings
on 863 Alabama properties last month, rising 11.5 percent from June
and a whopping 73 percent from July 2007.
The trend may continue as more subprime adjustable rate
mortgages are scheduled to reset in the second half of the year.
Despite the spike, Alabama has maintained its low foreclosure rate,
ranking No. 41 with one in every 2,445 state households receiving a
filing compared to one in every 464 nationwide.
Foreclosure filings across the country in July rose 8 percent
from June and 55 percent from July a year ago.

(Copyright 2008 by The Associated Press. All Rights Reserved.)
Email a Friend Email to a Friend   
Printer Friendly Printer Friendly
Translate: » Spanish | French | German | Italian | Japanese | Chinese | Russian | Hindi

Recently Commented On

Would You Carry Your Best Friend’s…

20 Total Comments
Would You Carry Your Best Friend’s Baby? A Mobile woman makes a sacrifice to help her best friend,… more »

Mobile Man Robbed At Gunpoint…

4 Total Comments
Mobile Man Robbed At Gunpoint In Home Invasion He said three men put a gun to his head more »

Gambino Family Talks

12 Total Comments
Gambino Family Talks Family of Fairhope man accused of barricading himself inside… more »

Carjackings On The Rise

6 Total Comments
Carjackings On The Rise A man is shot during a carjacking in his own driveway. more »

Community Wants Progress on…

1 Total Comments
Community Wants Progress on 98 Bypass Some residents want work on Highway 98 bypass to resume. more »