Here are the numbers:
The Calhoun County Probate Office reported 91 foreclosures for the third quarter of the year — the most reported in a quarter so far this year. The Probate Office reported 79 foreclosures in the second quarter and 88 in the first quarter.
In contrast, the Probate Office reported 101 foreclosures during the third quarter of 2010. Last year also had 117 foreclosures reported during its second quarter — the highest recorded number since the housing market crashed and the recession began in 2008.
Making the connection with the job market,
And as long as unemployment stays high, foreclosures will continue.
“Everything is driven by employment,” Zumpano said. “People won’t be able to buy if they don’t have jobs.”
First, it is hard to get out of a foreclosure when you don’t have a job or when you have had to take a big paycheck cut at a new job. It just turns out to be simple math and sometimes the numbers simply don’t add up.
Second, we are seeing a slight slowdown in the number of folks contacting us about foreclosures and ejectment lawsuits after a foreclosure.
Our sense is this is a temporary thing as many foreclosures have been put off by some of the problems the banks and mortgage servicing companies are facing with the robo signers, bogus documents, etc. We expect there will be a ramp up in foreclosures, and the lawsuits after foreclosures to eject (or evict) people after the foreclosures.
If you live in Alabama and have any questions about foreclosures or ejectment lawsuits, feel free to call us at 205-879-2447 or contact us through our website contact form. We are very selective in the cases we accept but we are always glad to try and help think through options that you may have.