Search Alabama Foreclosure Listings

Alabama Foreclosure Listings

Alabama is a great southern state full of tradition and many years of history. The area is well steeped in the days of slavery and the race movement in the United States and for those reasons it is a fantastic place to visit and it is also fast becoming a great place to live.

Some of the advantages to living in Alabama are the warm temperate climate which makes it easy to live here year around. The cost of buying a home and the actual costs of living are lower in Alabama than they are in a lot of the other states in the country so it is equally affordable to live after buying a home. There is little industry once you are outside of the larger cities but agriculture and tourism both play a large hand in the local economy of the smaller and less populated areas.

The three largest cities in the state, in order from most populated to least are the cities of Birmingham, Mobile and then Montgomery. These cities house the majority of the state population and the wealth of the jobs.

Foreclosure laws in Alabama allow for both judicial and non-judicial methods of foreclosing and you can expect that if you are after a foreclosure here to purchase, it will take anywhere from thirty to sixty days for the foreclosure to finalize.

That means that you can purchase a Alabama foreclosure listing here usually within two months of the former owner falling into a state of default on the loan. After that period of time the owner has 12 months in which he or she can activate the right of redemption and rescue the property.

Sales of Alabama foreclosed homes are done between the hours of 11:00 AM and 4:00 PM at the courthouse doors in the form of a public auction for cash to the highest bidder.

The laws here also allow for the lender to have the right to recover the difference from the previous owner between what was owed on the property and what the final auction price was when the sale is finalized.