The Foreclosure Report

Filings Ramp Up In Alabama

The Birmingham News from Alabama. "Foreclosure filings in Alabama rose 27 percent in the third quarter from the same period a year ago, according to a California firm that operates an online foreclosure marketplace. RealtyTrac said there were 1,215 foreclosures in Alabama in the July-to-September period. The number increased every month in the period, 307 in July, 379 in August and 529 in September."

"The figure was 26.83 percent higher than the third quarter of 2005 and 32.93 percent higher than the previous three-month period, RealtyTrac said."

"'What our third-quarter research appears to be showing is that the first wave of adjustable rate mortgages is having a negative impact on the number of homes going into foreclosure,' said RealtyTrac CEO James J. Saccacio."

posted by Ben Jones @ 2:36 PM