Alabama foreclosure filings drop
RealtyTrac released data today showing 642 filings in the state in April, a drop of nearly 29 percent from the same month in 2007 and 1 percent from the month before. Foreclosure filings across the nation rose 65 percent in April from the prior-year and 4 percent from the previous month, the firm said.
“The total number of U.S. properties with foreclosure activity in April was the highest monthly total we’ve seen since we began issuing the report in January 2005,” said RealtyTrac CEO James J. Saccacio. “Although only about 2 percent of households nationwide are in foreclosure, these properties contribute to already bloated inventories of homes for sale, and put downward pressure on home values.
“Areas of California, Florida, Nevada and Arizona continue to be particularly hard-hit. Property tax bases are eroding, putting municipal budgets in peril,” he added.
Alabama has escaped those problems. The April figure represented one filing for every 3,287 Alabama households, lower than the national average of one in 519. Alabama ranked No. 42 among the states last month
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