State Specific Question About: ALABAMA (AL)

I have the following dilemma. I’m facing a multifamily commercial foreclosure next week. The reason for the force sale is a shortage of escrow. My attorney is in communication with the lawyer that represents BOA but he finally replied it would be Monday @ noon before they would let him know if they would accept our offer of getting the account back to par.

I feel like I’m running out of time and being treated unfairly. One lawyer says to file Chapter 11 but the fees are enormous and I feel the cash flow would not justify the expense. Can anyone give me a suggestion as to delay this foreclosure? I read I could possibly file a stay to delay the foreclosure for 90 days but do not know if this is possible here in Alabama. I feel BOA is not being reasonable.

Any advice would be much appreciated. Thank you...

Of the various toxic loans that BOA is sitting on the MOST marketable would be the multi'ss.

Whatever motivation they have to "work with" a regular homeowner in default... just ain't there. If they get your property they might actually make a profit when they re-sell.

If the property isn't worth saving "I feel the cash flow doesn't justify the expense" then why delay? The only way you can stop a foreclosure is bankruptcy or convince the bank to work with you (good luck on that).