9/14/2023 0 Comments Default letter example![]() ![]() You can read more about paragraph 22 default letters here. (Sometimes the paragraph number is slightly different but most mortgages have the equivalent of this). Your mortgage will have parargraph 22 which lays out the details of what letters have to be sent in order to ultimately do a foreclosure. This is why the default letter being defective gives you an opportunity to fight back against the foreclosure. This is amazing power given to the mortgage companies so in exchange for this, the courts hold the mortgage companies to strict compliance. We call this “non judicial” foreclosure because no judge is involved. It all takes place privately between you and the mortgage company except that there is a public advertising in the newspaper and then the foreclosure sale takes place outside the courthouse front entrance. In Alabama, there is no judge involved in your foreclosure. This is NOT how Alabama foreclosures work. It is called a “judicial” foreclosure because the court - the judicial system - is involved in it. Then the judge will allow the foreclosure. In Florida, for example, for the mortgage company to foreclose it must sue you, serve you, and then beat you in court. Two Types of Foreclosures In America Judicial Foreclosure If the default letter is defective, then the Alabama foreclosure can be declared “void” so that it never happened and/or you can sue for money damages. ![]()
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