“Is it fair to sue my mortgage company under RESPA after sending a Notice Of Error letter?”
We talk in other articles about what exactly Notice of Error letters are, and how they help you when you’re dealing with mortgage companies.
We’ve had cases where the mortgage company did nothing to fix the errors we mentioned.
Consumers may wonder, “would it be right to sue them after we’ve sent them letters?”
All too often these mortgage companies will act indignant… (Read more)
Your house is sold at a foreclosure sale in Alabama — what does that mean about you having to leave your house?
We have written a good bit about how to stop a foreclosure but what if the foreclosure goes through? What happens next?
Here’s the basic timeline and then we’ll dive into each one to give some details:
Foreclosure deed gets filed in Probate Court
You get a “vacate letter” from the alleged new owner of your home
Normally… (Read more)
“What if I sue my mortgage company but it still forecloses against me?”
In another article, we talked about whether or not bankruptcy was the only option when you’re facing foreclosure.
Today, we would like to follow that question up with the best way to handle a foreclosure without going through the life-altering process of bankruptcy.
Sue your mortgage company before the foreclosure takes place.
When they tell you the foreclosure date, be sure to file your lawsuit before that… (Read more)
No.
We see so many Alabama consumers make this mistake and it ends in disaster and anger.
Let me lay out the context and then we’ll dive right into what happens.
Context — foreclosure happens and then you get sued
So as an Alabama resident and homeowner you get behind. Your mortgage company threatens foreclosure.
So you get a default letter and then an acceleration letter.
Maybe you try loss mitigation or maybe not.
Then on the actual date of… (Read more)
“Is it legal for my second mortgage to foreclose on me?”
The answer is yes, they can. As long as the mortgage company follows the rules.
Let’s take a moment to define some terms, though.
When we’re talking about the first mortgage company, we’re talking about the main mortgage for your home.
Sometimes, people decide to get another mortgage on top of that. That second mortgage is also tied to the house you bought.
When you’re dealing with a foreclosure,… (Read more)
“What exactly is a foreclosure deed in Alabama?”
There are many misconceptions out there about what a foreclosure deed is.
Today we would like to clear those up for you.
When we’re talking about who owns your house, we tend to jokingly say that the bank owns it.
Technically speaking, we own our houses.
There is a debt that we pay back to the bank (the “note”), and the mortgage ties that debt to the house, but it’s in our… (Read more)