Foreclosures significantly on the rise in Huntsville

posted on:
October 7, 2008

author:
Jeanie Powell

Alabama lawyers are offering free advice to homeowners about to foreclose, beginning with Huntsville and Madison County.

Due to the mortgage foreclosure crisis, Monday the Alabama State Bar and Legal Services Alabama announced their partnership with a plan to help Alabama homeowners remain in their homes.

According to the Madison County Probate Office, foreclosures have been on the rise in the past three to four months.

At the same time the Alabama State Bar is offering help until our nation sees better financial stability, we got insight from U.S. Senator Jeff Sessions, in town giving his support to Republican District Five Congressional candidate Wayne Parker.

Senator Sessions says in 1981, 1991, and after 9/11, our nation witnessed an adjustment in the form of a recession and we have survived.     

The mortgage meltown’s affected the average American in a big way.

Senator Sessions tells WAFF 48 News, “Housing prices particularly were booming too high. I believe everybody could see there was a bubble in the housing.”

Foreclosure deeds filed in Madison County during certain months in 2008 have increased since the same time frame last year.

When we broached the subject of Valley foreclosures Sessions says, “Foreclosures are up and we’ve had massive building all over the state, some places more than others.  Huntsville’s built dramatically anticipating large numbers of people coming from here from BRAC, but right now here, and some houses can’t be sold.”

Sessions is more optimistic Huntsville will pull through as opposed to cities in other parts of the country because of the thousand of homes available with not enough people will to pay for them.

“I think we’ll have people coming into our area the numbers are going to continue to come down either from BRAC people transferring or new people moving in to take those jobs so I think Huntsville will work it’s way through this.”

His outlook for getting through this financially draining time is good policy.

“There are things we can do.  We should not underestimate the dangers that we face in the economy.  Good policy can help make things better and we need to strive to do that, but bad policy in the long run could hurt our country.”

He says he believes if we work hard and continue to honor our debts and honor values our parents taught us, American will work it’s way through this.

Sessions sympathizes with those struggling during tough economic times, “But for some people right now it’s very painful.  Some people, your heart goes out to them.”

Beginning Monday, through radio and television, the Alabama State Bar launched a campaign to help those on the brink of foreclosure, offering free legal advice.

PSA’s will air in the Huntsville and surrounding areas.

Members began working on the campaign about a month ago.

Thomas Methvin, State Bar President-elect tells WAFF 48 News, “It’s a way to give back to the public and to try and keep people from losing their homes. There have been so many people that have been victims of predatory lending practices and we just want to make sure their rights are enforced before someone tries taking their house.”

“It could be advice dealing with trying to work with the lender, it could be actual litigation or it could be working out a solution with lender.”

Methvin, who also chairs the Mortgage Foreclosure Task Force says, “We wanted to start in one city to begin with and Huntsville was a good place to start.  There are a huge number of foreclosures going on in the area.”

If your home is being foreclosed upon or you’ve missed several payments, you can call the toll-free hotline 1-877-393-2333 and a legal aid attorney will advise you free of cost.

You can download an informational pamphlet that provides answers to many commonly asked questions at www.alabar.org.

Then click on “foreclosure resources.”

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