Foreclosure in Alabama — Is It Really Possible To Undo It/Set It Aside?
Foreclosure in Alabama — Is It Really Possible To Undo (Set Aside) it?
One bit of advice, or maybe I should say a supposed “statement of fact” is that once it happens, it is impossible to “undo” the foreclosure or “set aside” the foreclosure.
You will certainly hear this from the mortgage company. From the real estate agent who is putting move out notices on your door.
Remarkably, even in 2017, you will hear this from most every lawyer you talk to.
They will say
“After the foreclosure, there is simply nothing that can be done. I’m sorry, it is too late.”
Here’s the real deal.
It may be too late or it may not be too late after a foreclosure.
Just because the foreclosure happened does not mean you can’t get the mortgage company (Bank of America, Chase, Citi Mortgage, Wells Fargo, etc) or Fannie Mae or Freddie Mac to undo it.
We do this repeatedly and have for many years now in Alabama.
We are asked by consumers, lawyers and even by court personnel,
“How did you convince __________ to set aside the foreclosure?”
Here’s the answer:
We use the carrot and the stick.
The carrot is our clients can afford the mortgage — they just need a second chance.
So if you are looking for a free house, don’t call us.
The stick is we sue these mortgage companies (and Fannie Mae/Freddie Mac) when they have violated the law.
They face money damages if we win. They may face having to pay our hourly rate of at least $400 for every hour we work on the case.
So we use the positive (“you can get paid by our clients”) and the negative (“we want to try the case in front of a jury”) and if everybody will act reasonably, then the case can be settled with you back making payments.
Bottom line — it may not be too late after a foreclosure for you to be able to get rid of the foreclosure.
You have to act in the right time, and you have to have the right type of case, but if you do then you certainly have the opportunity to void out the foreclosure so it will be viewed as never having happened.
If you have not reached a foreclosure, then a great resource is our free video series on preventing one — go to www.ForeclosureDVD.com.
If you want to know more about how to use the new RESPA laws with your mortgage company to make them treat you fairly, then go to www.RESPAVideo.com and learn by watching a video and downloading sample form letters.
If you have questions about your options in Alabama, give us a call at 1-205-879-2447.
You can also contact us through our website.
We will gladly help you in any way we can.
Thanks for reading, and have a great day!