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The law onforclosers, vina alabama, only sent that they were…

Customer Question
The law onforclosers Lawyer's...

The law onforclosers

Lawyer's Assistant: Where is the property located?

Vina alabama

Lawyer's Assistant: Has any paperwork been filed?

Only sent that they were going to sell my house on court house steps.it was sent by lawyers

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

I have severl times to talk to the bank to even refinance or got a extion they will not talk to me .

Submitted: 1 year ago.Category: Real Estate Law
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Customer reply replied 1 year ago
I try to talk to them 9 years ago about the things that were to be fix it was rote in the papers AS IS we r not going to anything...they lied to us about the house and the shape it was in .I have at lease$ 20,000.00 wrap up fixing the house up now they want the house back so they can sell it again for anouther profft.
Customer reply replied 1 year ago
what rights do I have to protect my self
Answered in 1 day by:
3/22/2017
Real Estate Lawyer: Attyadvisor, Attorney replied 1 year ago
Attyadvisor
Attyadvisor, Attorney
Category: Real Estate Law
Satisfied Customers: 8,677
Experience: 30 years of experience in General Practice, Real Estate Law and Estate Law.
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Welcome and thank you for your question. I will be the professional that will be assisting you.

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Customer reply replied 1 year ago
What rights do I have .i only have till 25 of april
Real Estate Lawyer: Attyadvisor, Attorney replied 1 year ago

Foreclosure is a legal process that follows statutory requirements. Some lender would prefer to foreclose rather that work with. If you have fallen behind in payments the lender is able to start the process to foreclose. Once that is started you have the ability to pay the loan balance in full or work out a loan modification or a short sale.

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Real Estate Lawyer: Attyadvisor, Attorney replied 1 year ago

Is April 25 the auction date? When did you first receive notice that you were in defalut?

Is this a judicial or non-judicial foreclosure?

“How are Alabama mortgages foreclosed?

The primary method of foreclosure in Alabama involves what is known as non-judicial foreclosure. When the mortgage is initially signed it will usually contain a provision called a power of sale clause, which upon default allows an attorney to foreclose on the property in order to satisfy the underlying defaulted loan. Auctions are conducted by the sheriff. Because this is a non-judicial remedy, there are very stringent notice requirements and the legal documents are required to contain the power of sale language in order to use this type of foreclosure method.


Power of Sale Notice Requirements:

  1. Prior to initiating a foreclosure the attorney conducting the foreclosure must obtain and file a notice of sale indicating the foreclosure will be pending. The lender must then publish a notice of foreclosure sale date for three (3) weeks in a newspaper of general circulation in the county in which the property is located. If there is no such newspaper in the county in which the property is located, then the newspaper in an adjacent county may be used.
  2. The borrower may make payment and discontinue the foreclosure process provided the payment is made prior to the foreclosure sale and all costs and fees are paid in full.
  3. The sheriff will auction the property to the highest bidder, including the lender. Sales usually occur between 11AM and 4PM. The foreclosure sale may be postponed by the sheriff from day to day.

In Alabama, the lenders can also go to court in what is known as a judicial foreclosure proceeding where the court must issue a final judgment of foreclosure. The property is then sold as part of a publicly noticed sale by the sheriff. A complaint is filed in court along with what is known a lis pendens. A lis pendens is a recorded document that provides public notice that the property is being foreclosed upon.

How long does it take to foreclose a property in Alabama?

Depending on the timing of the various required notices, it usually takes approximately 60-90 days to effectuate an uncontested non-judicial foreclosure. This process may be delayed if the borrower contests the action in court, seeks delays and adjournments of sales, or files for bankruptcy.

Is there a right of redemption in Alabama?

Alabama has a statutory right of redemption, which would allow a party whose property has been foreclosed to reclaim that property by making payment in full of the sum of the unpaid loan plus costs within twelve (12) months after the sale. A Deed in Lieu of Foreclosure does not provide a right of redemption nor does it permit a deficiency judgment.” https://www.foreclosure.com/statelaw_AL.html#4

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