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A research firm specializing in foreclosures has reported that foreclosures in the state of Alabama declined during the first quarter of 2012.

The foreclosures declined by 18.6 percent in Alabama, as compared to the first quarter in 2011, and totaled 4,534 applications for the first quarter of 2012. The results of the research regarding national filings for foreclosure revealed that the overall foreclosure rate fell by 16 percent, when compared to the same quarter from the previous year.

According to several experts, this number may be increasing in the very near future. Alabama banks are expecting foreclosure filings to increase dramatically due to the $25 billion mortgage settlement that was announced in February.

If you have questions regarding foreclosures, please contact the Birmingham foreclosure defense lawyers of Greenway Law, LLC by calling 205-324-4000 today.

Tags: Alabama Decline, Decline

One of the primary reasons that people are filing for bankruptcy these days is to let go of and truly walk away from real estate that is significantly underwater or in foreclosure. Bankruptcy is in nearly all cases a vastly more cost-effective and time-efficient means of walking away from a home than is a short sale in which homeowners must negotiate with and often pay off lenders to get their agreement on the sale (not to mention the tax liability that short sales can leave them with!), and it is certainly more effective than simply letting a house go to foreclosure, which, particularly here in Michigan, can result in potentially huge deficiency debts to the mortgage-holding bank.

However, the surrender of a home in bankruptcy, which requires no negotiation with creditors or banks, incurs no tax liability, and leaves you free from worry over collections for deficiencies owed, unlike short sales, does not instantly immunize a homeowner from all costs associated with the property.

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Tags: Bankruptcy, Home Bankruptcy

When you really take a close look at the CARD Act, the eligibility requirements are not nearly as strict as one would have thought they would be, University of South Carolina law professor Eboni Nelson told the newspaper. You dont have to show your ability to pay the full $1,000 or $2,000 credit limit . You may just have to pay the $25 or $50 monthly minimum payment, which is a very, very low threshold as far as being able to qualify on your own for a credit card.

In addition, students can even claim projected future earnings like from a summer job or work-study program as income when they sign up, the report said.

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Tags: Card, Card Offers

When people come into a chunk of cash whether from an inheritance, a bonus, a large sale, a big commission, a TAX REFUND (hint, hint), or whatever means, they usually think of three things:

1. I can finally buy [insert whatever you've been drooling over] or
2. I can finally pay off [insert annoying/threatening creditor] or
3. I really need to invest this for the long haul.

This article is written for that third group. The problem is, many of us (me included) have said that before but wound up spending the money on either #1 or #2. But today’s the day. Today we get that brokerage account opened and begin investing that bonus, tax refund, or big commission check into our future. Today is YOUR day.

An investment is an asset—such as a stock or a bond— that an investor buys in order to build wealth over time. The value of an investment can rise or fall based on a number of factors, from supply and demand to the state of the overall economy. Investo

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What are Refund anticipation loans?

These loans are right up there (or down there) on my list with prepaid debit cardstheyre poor choices.  These loans are secured by the taxpayer’s expected tax refund. These loans are offered by one bank now through a few tax preparers.  The loan is usually for a short period of 7 to 14 days, until the Internal Revenue Service pays the refund. The tax payer is charged very high Interest rates and additional fees.  Since this loan is offered through a tax preparer, there is a tax preparation fee, interest on the loan and fee to open a temporary bank account. There may be additional fees such as application, administrative, e-filing, transmission, or “processing.”

For example, a $1,500 loan for 12 days is charged $61.2 interest, which is 124 percent APR (annual percentage rate). In addit

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Tags: Loan