Alabama Redemption Rights
The Governor of Alabama has before him a bill to shorten the post-foreclosure redemption time period from one year to six months, but only for properties that are (or were, until recently) owner-occupied residential properties. The hidden peril is this--the lender must send out a specific notice at least 30 days before the foreclosure. If they don't send the notice, or the notice is defective, the redemption period can be as long as two years. What do you think about this?
