Alabama Bucks Nationwide Foreclosure Trend - WSFA.com Montgomery Alabama news.

Alabama Bucks Nationwide Foreclosure Trend

Montgomery, Al. (WSFA) --Closing the deal on a new home can be stressful.

Imagine, however, if you lost the house you'd lived in for years--all because you couldn't pay your mortgage.

That's what's happening to countless Americans.

A new report released by California-based RealtyTrac says more than 240,000 homes were foreclosed last month nationwide.

That's one foreclosure for every 519 houses.  A record high.

Here in Alabama, however, the trend goes against the grain.

"I don't know from a buyers standpoint what more you could ask for," explained Joey Long, a Montgomery realtor.

While Arizona, California, and Nevada have the most trouble, Alabama's ahead of the pack.

The state ranked 42nd in the U.S. with only 642 homes under foreclosure in April.  That's nearly a 29% drop from April 2007.

"With all the strengths we have here locally, we're just not seeing the problems that other markets are," Long said.

So why the difference here at home?

Realtors say a booming economy and strong industry help pave the way for a different trend.

Don't forget fixed rate mortgages, a popular choice for buyers here in Alabama.

"There's not a need to save an extra 1% when our average sales price is around $160,000," Long explained.

For Alabamians suffering from a slumping economy, brokers say the best way to make sure you don't lose your house is to work out a solution with your lender.

"Usually they have a whole department that handles a repayment schedule.  They don't want your house back. They want to help you stay in it," explained mortgage broker Vicki Williams.

 

Reporter:  Cody Holyoke

  • NewsMore>>

  • Jury recommends $25M in Johnson & Johnson lawsuit

    Jury recommends $25M in Johnson & Johnson lawsuit

    Thursday, May 24 2018 4:42 PM EDT2018-05-24 20:42:21 GMT
    Saturday, May 26 2018 8:15 AM EDT2018-05-26 12:15:27 GMT
    Johnson & Johnson said it's disappointed in the decision and will appeal. (Source: AP Photo/Tony Dejak)Johnson & Johnson said it's disappointed in the decision and will appeal. (Source: AP Photo/Tony Dejak)

    A Southern California jury has ordered Johnson & Johnson to pay more than $25 million to a woman who claimed in a lawsuit that she developed cancer by using the company's talc-based baby powder.

    More >>

    A Southern California jury has ordered Johnson & Johnson to pay more than $25 million to a woman who claimed in a lawsuit that she developed cancer by using the company's talc-based baby powder.

    More >>
  • Seoul: North Korea committed to US summit, denuclearization

    Seoul: North Korea committed to US summit, denuclearization

    Saturday, May 26 2018 9:23 PM EDT2018-05-27 01:23:54 GMT
    Sunday, May 27 2018 3:07 AM EDT2018-05-27 07:07:39 GMT
    (South Korea Presidential Blue House/Yonhap via AP). In this May 26, 2018 photo provided on May 27, 2018, by South Korea Presidential Blue House via Yonhap News Agency, North Korean leader Kim Jong Un, center left, and South Korean President Moon Jae-i...(South Korea Presidential Blue House/Yonhap via AP). In this May 26, 2018 photo provided on May 27, 2018, by South Korea Presidential Blue House via Yonhap News Agency, North Korean leader Kim Jong Un, center left, and South Korean President Moon Jae-i...

    At the White House, President Trump said negotiations over a potential June 12 summit with North Korean leader Kim Jong Un that he had earlier canceled are "going along very well." 

    More >>

    At the White House, President Trump said negotiations over a potential June 12 summit with North Korean leader Kim Jong Un that he had earlier canceled are "going along very well." 

    More >>
  • More LGBT issues loom as justices near wedding cake decision

    More LGBT issues loom as justices near wedding cake decision

    Saturday, May 26 2018 9:33 AM EDT2018-05-26 13:33:35 GMT
    Sunday, May 27 2018 3:06 AM EDT2018-05-27 07:06:58 GMT
    (AP Photo/J. Scott Applewhite, File). FILE - In this Oct. 10, 2017, file photo, the Supreme Court in Washington is seen at sunset. A flood of lawsuits over LGBT rights is making its way through the courts and will continue, no matter the outcome in the...(AP Photo/J. Scott Applewhite, File). FILE - In this Oct. 10, 2017, file photo, the Supreme Court in Washington is seen at sunset. A flood of lawsuits over LGBT rights is making its way through the courts and will continue, no matter the outcome in the...

    A flood of lawsuits over LGBT rights is making its way through courts and that'll continue, no matter what the Supreme Court decides in the case of a baker who wouldn't create a wedding cake for a same-sex couple.

    More >>

    A flood of lawsuits over LGBT rights is making its way through courts and that'll continue, no matter what the Supreme Court decides in the case of a baker who wouldn't create a wedding cake for a same-sex couple.

    More >>
Powered by Frankly