QUESTION
What reasons are need for someone to foreclose on your home
Asked on May 27th, 2016 on Foreclosures - Alabama
More details to this question:
I'm buying a house that is finance by the owner. I was a couple of months behind but now I only owe for this month . The owner is threatening to foreclose if I don't pay by the end of the month , do he have the right to foreclose?
1 ANSWER
Foreclosures Attorney serving Birmingham, AL
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Matthew A. Dunaway Attorney at Law
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It depends on the language of the contract, specifically the default terms of the contract. Foreclosure, usually, may occur after a default, which is usually defined as 30 days.
Answered on Jun 05th, 2016 at 9:33 PM