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Foreclosure Survival Guide
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Foreclosure Survival Guide (1st Edition)
| Topic | State Rule |
|---|---|
| Common type of foreclosure process | Nonjudicial: under a power of sale in a deed of trust |
| Time to respond | Foreclosing party must publish notice a newspaper of general circulation for four consecutive weeks; no requirement that the homeowner be served by mail. |
| Reinstatement of loan before sale | No |
| Redemption after sale | No |
| Special protections for foreclosures involving high-cost mortgages | None |
| Special state protections for service members | Ala. Code §§ 31-12-1 to 31-12-10 |
| Deficiency judgments | Not allowed in nonjudicial foreclosures |
| Cash exempted in bankruptcy | None |
| Notice to leave after house is sold | State law does not specify an amount of notice that must be given before former owner can be evicted. Check with a resource (see Ch.10) to see what the general practice is where you live. |
| Foreclosure statutes | Ala. Code §§ 35-10-1 to 35-10-30, 6-5-247 to 6-5-256 |