Discover how you can save your home from a foreclosure without filing bankruptcy
You are here because you received a letter from us about a foreclosure that is scheduled on your home and you want to save your home WITHOUT filing for bankruptcy
The good news is you most likely have some options to legitimately stop the foreclosure. You will need to act quickly and decisively but you do have options.
(You may be ready to talk now — if so call 205-879-2447 and ask for Randi or click on the button below).
The problem you face with a scheduled foreclosure
I’m not being negative — simply realistic and blunt with you. Here are the problems with a foreclosure:
- A foreclosure is where the ownership of your home gets transferred from you to whoever is the high bidder at the foreclosure sale . . . so you no longer own your home.
- The sale is public, but no judge is involved in it to make sure it is legal . . . so you have to trust the crooked mortgage companies are going to follow the law.
- If the purchase price is less than what you owe, then you can be sued for a “deficiency” money damages judgment . . . so you not only lose your home but you can be facing wage garnishment and bank account garnishment.
- Your credit report will almost certainly show for a number of years that you have a foreclosure . . . so this greatly damages your credit score and ability to get credit or an apartment.
- You have to move from your home (and it will never be a convenient time) . . . or be sued and then thrown out by the sheriff’s department.
- Foreclosure is a life changing event . . . that will be in the public record for the rest of your life.
- You can lose your job because of a foreclosure . . . when your security clearance is revoked or your job in a financial services company is terminated due to having to report a foreclosure.
Many folks have told us over the years that they don’t believe foreclosure can happen in Alabama.
Or they saw a report on the news or internet that the banks have committed massive fraud so no foreclosures are legal (yes on massive fraud but foreclosures continue).
Perhaps they know the probate judge and he would never allow this (the probate judge actually has no say in this matter).
Not to be unkind but those statements are like saying,
I don’t believe in gravity so when I jump off the Empire State Building I won’t plummet to the ground and die.
Yes, if I jump off the building, I will hit the ground and I will die.
If you do nothing, the foreclosure will happen and then your problems get even worse.
Foreclosures happen every day. Probate judges have no power to stop a foreclosure.
This is clear and present danger to you right now so you must stop the foreclosure. If you don’t, you can imagine the consequences.
(If you are ready to talk now, call 205-879-2447 and ask for Randi or click on the button below).
Everyone tells you that bankruptcy is the only option — don’t fall for this “urban legend”!
Bankruptcy is one option but normally it is a lousy option, especially if you want to keep your home. I’m guessing you are here because you want to keep your home, instead of filing for bankruptcy and then losing it to foreclosure.
Bankruptcy can usually stop the foreclosure sale — that’s true — but then what?
That’s where most bankruptcy attorneys say, “Well let’s stop the foreclosure then we’ll figure that out.” Or “You just make your normal payment plus pay off the back payments.”
But if you struggle to make your normal payment, how will you make even more than that? And now you have a bankruptcy that follows you around as a black mark against you.
Applications for credit, insurance, and employment, to name a few, will ask:
“Have you ever filed Bankruptcy?”
This makes the filing of that Bankruptcy a life event and will have to be disclosed for the rest of your life, even after the 10-year credit reporting period has expired.
Bankruptcy is an option but it is usually a lousy option.
Instead of filing bankruptcy, sue your mortgage company as is your right to do under your mortgage contract
Pull out your mortgage and look at paragraph 22. (That’s the typical paragraph number).
It will tell you and the mortgage company what is to happen if you default on your loan.
Here’s the critical detail — it will tell you in almost every standard mortgage that you have the right to bring a court action (a lawsuit) to have a judge decide if you have any defenses to the foreclosure or the default.
In essence, this turns our “non judicial” foreclosure in Alabama into a “judicial foreclosure” because now you will have a judge decide if you should be foreclosed.
This is absolutely critical to understand.
You do NOT have to let these crooked mortgage companies foreclose on you without a judge. Instead sue in the right way, in the right court, with the right arguments so that a judge will be involved.
The mortgage companies absolutely hate this!
But you have the right to do this as that’s what the mortgage says you can do.
Whatever you do, take massive action right now
I can’t tell you which option is the best but I will give you a good starting point.
Call us at 205-879-2447 and let us help you think through whether you should file suit to stop your foreclosure.
“But how much is this going to cost to talk?”
There is no cost to talk with us. We do it this way, as we only want people to hire us and spend money with us if we are confident we can help. We simply don’t know this until we talk to you.
You can pick up the phone and call us at 205-879-2447 and ask for Randi. She is our paralegal who helps us with foreclosure crisis cases just like yours. She will gather information and then we’ll discuss your situation. You will have a short phone consultation so you don’t have to get into your car, drive to one of our offices, park, come in, etc. There is simply no need and you don’t have time to waste. (Now if you do have time and want to, we are happy to meet you in person in either our Birmingham or Madison offices).
We almost always do your free consultation by phone or video chat.
To make that consultation valuable for you, have as much of this critical information available as you can but DO NOT DELAY in calling us:
- The letter(s) from the foreclosure attorney’s office giving you the date of the foreclosure so that we can know your deadlines and other information about the foreclosure
- How far do they claim you are behind (dollars and in months — for example, $9000 which is 6 months at $1500 per month) so we know which loss mitigation options may be best and whether you can reinstate your loan
- Have you applied for loss mitigation or a loan modification — if so, when and what was the result so we know if your mortgage company is guilty of illegal “dual tracking”
- Your recent mortgage statements so we can see if there are any bogus fees or other illegal charges
- A copy of your default notice letter so we can see if it follows the requirements of your mortgage
- Copy of your mortgage so we can make sure you have the right to file suit before a foreclosure
(NOTE: if you are missing any of the above, still call us and we can help you find the information).
Is mere knowledge power?
You know that old expression that “Knowledge is power”? Wrong. Knowledge is only potential power. You know what real power is?
Knowledge PLUS action. Now you can have power if you know what to do and you take massive action.
So if you are ready to discover your options and you are willing to take massive action, then you greatly improve your odds of making the right choice.
We will help you go through your options. Without talking with you, we don’t know your best option but by talking with you we can help you quickly discover for yourself the best route for you to take.
Look forward to talking with you soon.
Call us at 205-879-2447 and ask for Randi or click on the button below.
PS – Remember the consultation call (205-879-2447) is free because we are very selective in who we help so we want you to only spend money with us if we believe we can help you. And, to be blunt, we want to make sure you are motivated to take action to save your home. There is simply nothing we can do for folks who just want to complain about mortgage companies – and I agree there was massive wrongdoing in this industry that nearly destroyed our economy – but we can’t just sit around and complain or the sheriff will be knocking on your door telling you to move.
So pick the phone and call us today at 205-879-2447 or click this button and we’ll get right with you.