Alabama Foreclosure Law

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Alabama Foreclosure Laws

Typical Alabama Foreclosure Time Frame – This ranges typically from as little as 30 days; the longest it typically takes is as many as 90 days.  The average time for most Alabama foreclosures is 60 days.

Judicial Foreclosure – Yes

Non-Judicial Foreclosure – Yes

Types of Security Instruments – Mortgage or a Deed of Trust

Right of Redemption Period – 365 days or 12 months

Alabama foreclosure law has provisions that allow both judicial and non-judicial foreclosures to be sought in the event that a default occurs.  In addition, in Alabama lenders are allowed to file for deficiency judgments if the situation calls for the need.

In order to obtain a judicial foreclosure in Alabama the lender is required to file with the courts seeking the permission of the judge in order to obtain an order from the court allowing the foreclosure sale.  Alternatively, non-judicial foreclosures are also available.  Non-judicial Alabama foreclosures typically involve a clause written into the mortgage or even the deed of trust that is called a “Power of Sale.”  This clause allows the lender to foreclose on the home should the loan go into default.  With this clause added into the mortgage contract there is no need to seek a court order in a foreclosure proceeding.

According to Alabama foreclosure laws, in a “Power of Sale” clause, the contract can either state the terms of the sale, or omit the terms.  If the terms are set forth in the clause then the terms must be followed exactly, with no deviation.  However, if the terms are omitted from the clause, then the sale must take place at the county courthouse that has jurisdiction of the property.  The sale must be to the highest bidder and paid in cash; however before the sale can take place, a waiting period of no less than 30 days after the last notice of sale must have passed.

In order for an Alabama foreclosure to be properly handled, it is required that a notice of the sale be published at least once a week for a minimum of four successive weeks in the newspaper for the county where the property is located.  However, if the property is located in more than one county, or if the mortgage is from multiple counties then the notification must be run in all of the counties that are applicable.  Alternatively, if there is no newspaper for the county in which the home is located, a notification must be run in the newspaper of the adjoining county for the same required time for the county of the property of at least once a week for a minimum of four successive weeks.


For more information on Alabama foreclosure laws click here.

 

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The information found on this site is not intended to be legal advice. The foreclosure process is highly case specific and laws vary throughout the United States. Please seek professional legal counsel before entering into any contract regarding any real property or stopping the foreclosure on any real property. By using this site you consent to the terms posted here.