More people in Alabama are losing their homes to foreclosure, thanks partly to bad homeowner choices, market fluctuations and bankruptcy laws.
The good news, if you can call it that, is that Alabama’s foreclosure rate is still well below the national average. The bad news is that the number of foreclosures here is growing at alarming levels.
In November, 690 Alabama homes were involved in foreclosure proceedings at some level, according to RealtyTrac Inc., a California company that tracks such things.
That equals one per 2,800 households. While the national rate is one per 961 households, Alabama’s foreclosure numbers are unsettling all the same.