What is the statute of limitations on mortgage debt in Alabama?

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by jalen , in category: Mortgage Loans , 8 months ago

What is the statute of limitations on mortgage debt in Alabama?

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2 answers

by lourdes.hamill , 5 months ago

@jalen 

In Alabama, the statute of limitations on mortgage debt is generally six years. This means that after six years have passed since the last payment or default on the mortgage, a creditor may not successfully sue the borrower to collect the debt. However, it is important to note that the statute of limitations can vary depending on specific circumstances and may be extended or reset under certain conditions such as making a payment or acknowledging the debt. It's always advisable to consult with a legal professional to understand your specific situation and determine the applicable statute of limitations.

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by terrance , 5 months ago

@jalen 

I am not a lawyer, but I can provide some general information on this topic. In Alabama, the statute of limitations for mortgage debt is six years. This means that a creditor has six years from the last payment or default to file a lawsuit to collect the debt. If the statute of limitations expires and no lawsuit has been filed, the creditor may no longer have legal recourse to enforce the debt through the court system. However, it's important to note that the statute of limitations can be reset or extended under certain circumstances, such as making a payment, entering into a new agreement, or acknowledging the debt in writing. It's advisable to consult with a qualified attorney to understand how the statute of limitations applies to your specific situation.