Legal Question in Credit and Debt Law in Alabama

Re: foreclosureassistance

I wouldn't bother with a company like that. If you have received a foreclosure notice, or more importantly, a 10-day demand letter, your options are very limited right now. If you have received the 10 day letter, here is what you should do:

1. If you cannot pay the balance of the mortgage before the 10 days are up ( and not many of us could ), you need to go ahead and move out. Don't panic! If you don't move out, you will waive any rights you have to get the property back later, so this is very important.

2. After you move out, formulate a plan to try and get the property back as soon as possible. You have a statutory right of redemption for 1 year after foreclosure to get the property back. What this means is that no matter who it gets sold to or how many times, you still have the right to buy it back from them if you can afford to.

There are some very technical and specific things you need to do in addition to this which would take up too much time to tell you here, so if you will, contact my office at 205 - 322 - 3747, or your own attorney.

God Bless!

Bobby Lott