Bankruptcy News & Information from Birmingham, Alabama Bankruptcy Lawyer, Matt Dunaway

Mortgage Delinquencies Still Rising

September 16, 2009

According to the Mortgage Bankers Association, the residential mortgage delinquency rate reached 9.24% at the end of the second quarter of 2009. The delinquency rate at the end of the second quarter of 2008, was 6.41%. This is the highest delinquency rate since the MBA started keeping records in 1972. This does not include homes [...]

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Bankruptcy filings up 35%

September 15, 2009

Bankruptcy filings increased 35% from the first half of 2008 to the first half of 2009. According the the American Bankruptcy Institute, 681,217 bankruptcy cases were filed during the first half of 2009, whereas 503,749 bankruptcy cases were filed in the first half of 2008. This marks a continued upward trend in bankruptcy filings from [...]

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Banking Fees Cost You More Than You Think

July 3, 2009

Banking fees cost consumers more than they realize; banks under pressure from huge losses continue to increase those fees. Your “free checking” may be “bait” for other fees which can cost consumers hundreds of dollars per year. Be careful! In a New York Times article by Eric Dash, banks who received billions of dollars in [...]

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Mortgage Delinquencies Increase Signaling Continued Rise in Bankruptcy & Debtor’s Court Filings

July 1, 2009

Mortgage delinquencies continue to increase, signaling a steady rise in Chapter 7 bankruptcy and Chapter 13 Debtor’s Court filings, throughout the rest of 2009 and into 2010. According to Margaret Chadbourn’s article at Bloomberg, delinquency rates on the LEAST-risky mortgages have more than doubled in Q1 2009, as compared to Q1 2008. Government attempts to [...]

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