Does Alabama Law Allow for a Redemption Period After a Foreclosure?
Yes. The property may be redeemed for 12 months after the foreclosure sale. The borrower whose property was foreclosed must pay the amount of the unpaid loan plus all interests and costs within 12 months of the foreclosure sale date in order to regain ownership of the property.
Additional Foreclosure Articles
- Where and When do Foreclosure Sales Take Place in Alabama?
- What Public Notice Requirements Are There For a Real Estate Foreclosure in Alabama?
- Can a Lender Sue a Borrower for a Deficiency Judgment if the Lender is Still Owed Money After a Foreclosure Sale in Alabama?
- How Can a Lender Foreclose on a Property in Alabama?
- How Long Does the Typical Foreclosure Process Take in Alabama?
- Can I Keep My Home If I File Bankruptcy in Alabama?
Search LawInfo's Foreclosure Resources