“If I’m facing foreclosure in Alabama, does my mortgage company have to give me a loan modification?”
This question comes up from time to time, and we would like to take a moment to talk about it today — are you entitled 100% to a loan modification?
The answer is no.
There’s no absolute guarantee, or right, to get a loan modification.
As an example, we had a potential client who owed over a million dollars but insisted that she… (Read more)
“What are the legal foreclosure hours in Alabama?”
Well, it’s not the entire day or business day.
The legal hours of a foreclosure sale start at 11 am and go until 4 pm.
There are a couple implications that come along with these hours.
The main implication is that, if they conduct the foreclosure sale outside of these hours, the sale is no good.
“What if they do the foreclosure sale at 8 am?” No good.
Foreclosure sales have to… (Read more)
“What happens at the actual foreclosure sale in Alabama?”
There will be someone to conduct the foreclosure — it can be an “auctioneer” or a foreclosure lawyer. Usually an auctioneer.
The auctioneer will stand there with a piece of paper that lists the auction, and then will read it to “conduct” the auction, and interact with the bidders.
Usually, the mortgage company is the highest bidder, however, every once in a while it’s an investor or someone who’s interested in… (Read more)
You have been foreclosed in Alabama and now the mortgage company or a real estate agent is talking to you about “cash for keys” and you are trying to figure out what to do next.
Let’s talk about the following:
What is cash for keys?
What are the advantages of taking it?
The disadvantages in accepting cash for keys?
What to do next
What exactly is cash for keys?
This is where you are offered money (“cash”) in exchange for… (Read more)
Alabama consumers often have questions about foreclosures — in this article we do our best to answer a number of these questions. We will have links to other articles if you want to go deeper on a particular subject.
At any time you can call us at 205-879-2447 to get help with your mortgage issues, especially stopping or reversing a foreclosure.
So let’s get started with these questions. . .
What does a “foreclosure” actually mean?
This is when… (Read more)