If you default on your mortgage payments, you may face foreclosure. In 2020, the COVID-19 pandemic has left many people with no or less work—and unable to pay their bills. Below, find out what protective measures are in place to help you keep your home if you live in Alabama. 

Preventative Measures Nationwide & in Alabama

The federal government hasn't taken steps to halt evictions or foreclosures nationwide. Some states have forestalled evictions and foreclosures, however. Also, major home loan providers Fannie Mae®, Freddie Mac®, and the U.S. Department of Housing and Urban Development (HUD) announced 60-day foreclosure moratoriums in mid-March.

In Alabama, Governor Kay Ivey ordered law enforcement to cease any actions that would put a person out of their place of residence. This presumably includes foreclosure. Also, Regions Bank® is offering a reprieve on mortgage payments to customers.

How to Avoid Foreclosure in Alabama

Although such measures offer a temporary reprieve, the economic impact of the coronavirus may be felt for much longer. If you are struggling to make payments down the line and face potential foreclosure, filing for bankruptcy is one possibility.

Once you file, the bankruptcy courts can ban creditors from taking any collection actions or contacting you. This will buy some time while you consult with an attorney on how to proceed. You may be able to refinance the loan, for instance, or negotiate a more feasible payment plan. A bankruptcy attorney can help.

Padgett & Robertson, Attorneys at Law, of Mobile, AL, have been helping clients facing foreclosure for over 35 years. Their knowledgeable attorneys also assist with bankruptcy issues. They pride themselves on offering knowledgeable legal guidance alongside compassionate client service. They understand how burdensome money troubles are and will work with you to help you get back on your feet financially. To begin, they will provide a free consultation with a detailed financial analysis. Visit their website to find out how to get started. To set up a meeting with a lawyer, call (251) 342-0264.

No representation is made that the quality of legal services to be performed is greater than the quality of legal services performed by other lawyers. We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.