Understanding the Foreclosure Process in Alabama: What Homeowners Should Know

Homeowners should know how the foreclosure process works in Alabama for them to better avoid getting in trouble with lenders once they have started to be considered delinquent.

In Alabama, foreclosure is primarily done outside the court (non-judicial) but does often occur within one as well (judicial). In non-judicial foreclosure method, delinquent homeowners should strictly abide by the terms of their mortgage. Under this method, a lawyer is given a “power of sale”, where they can foreclose on the property to obtain the defaulted loan amount owed by the property owner. On the other hand, a judicial method is the type of foreclosure that is decided by the court. Delinquent homeowners should know that it is possible for them to contest the foreclosure complaint filed against them. Homeowners could also prolong or prevent foreclosures by filing for bankruptcy or demand a delay in selling their house.

In the situation that your home is being threatened with foreclosure, enlisting a skilled attorney is a viable option to explore other ways to prevent it. Discuss your situation with an attorney of the Greenway Bankruptcy Law, LLC in Birmingham today by calling (205) 324-4000 to learn more about your legal options.