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Changes in foreclosure legislation

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Gayla Guest	Posted: Wed Jun 09, 2010 10:00 am    Post subject: Changes in foreclosure legislation Like 0 Dislike 0 Do you have any information on past legislation that attempted to change right of redemption law in Alabama? Thanks! _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
adonis Joined: 22 Oct 2005 Posts: 10250 Location: ALASKA 1043.57 Dollars($)	Posted: Thu Jun 10, 2010 12:25 am    Post subject: Like 0 Dislike 0 Welcome Gayla, As far as I know, Alabama allows the rights of redemption to the homeowners. This will allow the homeowner to reclaim that property after it has been foreclosed upon by making payment in full along with late payments and other required fees. This has to be done within twelve months after the sale of the property. However, if the property goes through a deed in lieu of foreclosure, then the the right to redeem the property is not applicable. _________________ Procrastination is the enemy of your financial success

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