Legal Question in Credit and Debt Law in Alabama

You do not indicate how many days you are behind. That is important because under the Dodd-Frank Act, a homeowner usually must be more than 120 days behind on mortgage payments before a loan servicer (the company that collects payments on behalf of the mortgage owner) can start a foreclosure proceeding. During the waiting period, the homeowner can submit a loss mitigation application asking for an accommodation that would allow the owner to stay in the home. Once received, the lender must complete a review of the loss mitigation application before starting the foreclosure process. Once the servicer makes a demand for you to cure the delinquency, they can require that you make the entire payment of the cure amount or they can reject any payments that are less than the cure amount. They can also chose to accept an amount less than the total cure amount demanded.