Alabama Foreclosure — Four Critical Factors to Consider When Deciding Whether to Stay or Leave Your Home After a Foreclosure
Four Critical Factors to Consider When Deciding Whether to Stay or Leave Your Home After a Foreclosure
After a foreclosure, you will think about whether you should stay in your home by fighting the mortgage company or whether you should leave.
We suggest Alabama homeowners consider the following four factors in making this decision:
- Economics — does it make dollars and cents to stay? Do you have equity? Can you afford your home? Will you have the ability to redeem your property later?
- Non economic factors — emotional attachment to your home; closeness of family and friends nearby; etc.
- Strength of your legal position — do you have a strong case or a weak case? Was there a wrongful foreclosure?
- Do you want to stay or are you ready to start over?
There is no one right or wrong answer but if you will consider these four factors, you will get a feeling of which way is best for you.
Not for someone else.
But for you….
If you live in Alabama and want to get our thoughts on your situation or you want us to help you think through these four factors, give us a call at 205-879-2447.
Or you can contact us through our contact form and we will get back with you as soon as possible to help you evaluate your options.
Thanks for reading, and have a great day!