There is a two-step argument for the defendant which is true in any type of case (injury, mortgage, abusive debt collector, false credit reporting, etc.)
The second mortgage is the company that is second in line to be paid when you sell your house.
A mortgage ties the note to the property.
A first mortgage is where we receive a loan to buy a house.
A consent judgment is where you agree to have a judgment against you in a collection lawsuit.
A judgment is a document that is from the judge and filed into court. It states that the debt collector can get money from us.
Compensatory damages fix the harm.
The word “damages” means that you’ve been harmed, and that you need to be repaid for those damages.
When we’re dealing with homes, several words get tossed around.
Sometimes it it gets confusing.
A Chapter 7 Bankruptcy is where we pull all of our debts together to be erased.
This is also known as a straight bankruptcy.
A request for admission is a type of discovery where the plaintiff and defendant can ask each other to confirm or deny different statements in writing.
Discovery is where the plaintiff and defendant exchange information.
A common question that comes up when we’re dealing with foreclosure in Alabama is, “What is loss mitigation?”
Basically, it’s anything that you do with your mortgage company to stop a foreclosure.
Interrogatories are written questions that can be served from one party to the other.
Instead of doing face to face deposition, we can write our questions out to the other side for them to answer within a set amount of time.
Alabama Consumer Law Blog