Comply With Your Mortgage to Foreclose in Alabama
In my time I have been investing in notes, I have learned to request drafts of letters and other documents for review prior to them being sent. While I trust my experts that I hire, I have had times when they had the wrong entity name on a document or other errors or imperfections that cost time and money. This article reinforces this point where in Alabama a foreclosure was invalidated due to noncompliance with the mortgage since:
“failure to strictly comply with the requirements of the mortgage — specifically failing to notify the borrowers of their right to initiate legal action — invalidated a foreclosure sale
The moral of the story is make sure you have an attorney who is well versed in the State Laws be sending your correspondence and ensure it is complete and accurate to minimize your risk.
Click here for a link to the full article by Andrew W. Saag Sirote & Permutt, PC
