Case study of a family deciding between chapter 13 bankruptcy and suing their mortgage company
Put yourself in the position of a lawyer who is meeting with a family facing the loss of their home due to foreclosure. What will you advise them? What are their options?
Let’s walk through a hypothetical example that is repeated every day in Alabama.
We will use an example of a typical family facing foreclosure who is considering filing bankruptcy. Let’s call them Bob… (Read more)
I was recently asked this question — “What is so bad about a foreclosure?” The person who asked this lives in Alabama and was asking in a very sincere way.
And it got me thinking that I have not ever discussed the actual specific negative consequences of foreclosures.
So let’s do the following three things:
Quick summary of foreclosure procedure
The short term consequences of a foreclosure
Long term consequences of foreclosure
Quick summary of the foreclosure procedure/process
If you… (Read more)
You are here because you are looking for ways to stop the upcoming foreclosure on your home in Alabama.
This will not be a long article — instead, we encourage you to watch the video to discover more of your rights and options.
(If you want to read some longer articles we suggest: The secret that your mortgage company does not want you to know about and the critical keys to understanding if your notice of default letter is defective).… (Read more)
The default letter (or “notice of default”) is the critical first step in the foreclosure process against you in Alabama. You need to know:
What is happening with the default letter
Defects in the default letter
What will happen next
What you should do right now
Let’s take these one at a time.
What is happening with the notice of default or default letter (and why are you getting it from your mortgage company)?
The notice of default (default letter)… (Read more)
My name is John Watts and my law firm helps Alabama consumers who are facing foreclosure to stop the foreclosure without filing bankruptcy.
Join me on this short journey and I trust you will find this time well spent as you look for how to save your home from a foreclosure.
The only supposed ways to stop a foreclosure in Alabama
The mortgage company (whether Nationstar/Mr. Cooper or Wells Fargo or Bank of America or whoever) wants you to believe… (Read more)
Alabama Foreclosure: What is a notice of acceleration?
So you have a mortgage and you’ve fallen behind on your payments, and you received a notice of default letter.
Unfortunately, you’re not able to fix this.
Now, you’ve received something called an “acceleration notice.”
What in the world is this?
It means you owe everything now.
When you get this in the mail, the mortgage company is basically saying, “You had a 30-year note, which means you had plenty of time… (Read more)