Texas has a very simple foreclosure process, but it also means the foreclosure timeline is short. If you do not make your mortgage payments and get behind, you might lose your home in a little more than a month. This timeline is counts the days from the time you get your first notice that you are delinquent on the mortgage payments to the day you are evicted from your house for defaulting on your mortgage loan.
The whole foreclosure process is simple, short, and not so sweet. It is also a good reason for borrower to contact their mortgage lenders as soon as they have a problem. The foreclosure timeline does not leave room for would-be homeowners to let their pride get in the way of asking for help.
What does a foreclosure timeline look like in Texas?
The first step in the foreclosure timeline means you will likely get a letter from your lender. It is what is called a notice of default; however, some mortgage companies may call it a demand letter. If you get a letter, stay calm. By law, you must be given 20 days to make right the default amount. The lender also may extend the time to pay, abiding by the investor/insurer guidelines that were agreed to when you signed the mortgage loan.
If you have not had the opportunity, it may be best to contact HUD, FHA, or a company that offers free solutions to your mortgage problems. Save My Texas Home services are always free! You should not have to pay to get advice that will help you keep your house. You can call us at 512.271.5044 or use the contact form, and we’ll get back to you with steps you can take right now!
Time for phase two in the foreclosure Timeline?
It is really best to ask for free aid as soon as possible after you have receive a delinquency notice on your mortgage loan. If you have not contacted a specialist for help, call them before your house the week of your house’s foreclose sale. Once you get a demand letter, a notice of sale cannot be far away.
Legally, a foreclosure sale cannot be filed until you have been given 20 days to right your delinquent account and 21 days have passed since receiving a demand letter. You may still have time to save your house, according to the foreclosure timeline, if you are very proactive. Do not delay contacting a specialist to discuss your options.
If you do get a notice of sale in the mail, the sale has already been filed with the county clerk and the auction time posted at the courthouse door. The earliest time you house will be sold must be posted in the letter. However, the sale of your property can take up to three hours after the posted time. Legally, the sale must be completed three hours of the time listed on your letter.
Third step in foreclosure timeline may be too late to save your House!
You can call us at 512.271.5044 or use the contact form, and we’ll get back to you with steps you can take to STOP the foreclosure timeline!
What if you did not receive your foreclosure sale?
It may not be a legal excuse because the letter is sent by certified mail to all borrowers and it has to be delivered 21 days before the date your house is to be sold. It can be very hard to arrange a short sale in three weeks, so it may not be an option on the foreclosure timeline, if you delay. Once you reach step three in the process, you should have packed your bags, moved out of the Foreclosure sales always take place the first Tuesday of each month, on the courthouse steps. Your house is up for grabs and anyone can bid!
Do you need free advice in order to save your house?
We are experts in foreclosures and we can help you in your fight to keep your house. Please give us a call as soon as possible, at 512-271-5044.