Many Texas borrowers may have done what the Valladares did to stop foreclosure. The couple paid a company called Homeowners Legal Assistance $3,000 to help them get a loan modification. The couple wanted to lower the mortgage payments. They could not pay on a high mortgage and sought lower payments. The couple did not get the financial relief they wanted or needed. The mortgage lender sent a notice; but they did not get payments. If the lender did not get the payments, they would take the house.
How could the Valladares help stop the foreclosure? They had nothing to show for the $3,000 that they had sent the company. The Valladares never got the help the company promised. Each year, Texas families are victims of financial thefts. Companies promise they can stop foreclosure without filing for bankruptcy. There is hope for a Texas family whom has been threatened with foreclosure, and in most cases bankruptcy can be avoided, but the sooner you get help the more options there are. Look for free resources such as those offered by SaveMyTexasHome if you need help to stop foreclosure.
Options to help stop foreclosure
Do not pay a company for services you can get for free. For example, Save My Texas Home has free counseling services for those who face eviction and foreclosure, or even just behind on mortgage payments. Trained specialists can suggest free resources, such as a applying for a government-issued FHA home modification loan. Applying for a FHA loan can lower a borrower’s mortgage payments. Families can keep their homes. Borrowers must follow all rules of this government-backed program, if they wish to modify their loan and participate in the program. By choosing a FHA loan, a couple can get a lower mortgage rate.
Texas homeowners need to pick up the telephone and contact organizations, such as Save My Texas Home. It is better to make a free call sooner than later, before there is a foreclosure auction. The trick to getting help and being successful is to act quickly. In Texas, the foreclosure process can take only 44 days. This is the schedule, if there are not delays. This schedule does not give homeowners time to save a home unless they act fast.
Asking for help sooner than later to stop a foreclosure auction
Many Texans may have the mortgage tools and telephone helpline to help stop foreclosure. This is not enough for some homeowners. They do not know how to use these tools or the real importance of calling a telephone hotline. Some borrowers never learn the fundamentals of homeownership. They need someone to teach them. They need to decide if they can afford a house before they make a house purchase. They may not know about bad lending practices, so they do not recognize predatory lending practices.
When borrowers sign a mortgage contract, they need to understand what happens if they default on the loan. Some mortgage lenders take advantage of those with poor or bad credit. Lenders know they can charge higher fees for late payments. The only way to help stop foreclosure is to understand the foreclosure process well. Do you know who you can telephone if you need help?
Many free organizations do not profit by helping homebuyers stop the foreclosure process. It is important to help stop foreclosure before a homebuyer loses their house. Many free organizations offer preventative measures to foreclosure and do not charge for assistance. Organizations, such as Save My Texas Home, offer callers free advice. They do not charge for the advice of their trained professionals give.
Save My Texas Home organization works with other recognized agencies. What are the organizations you can contact for help? HUD, Making a Home Affordable program, the CSSS in the Greater Dallas area, and other organizations can help. It does not matter if you need help making a down payment a house or you are about to be homeless. These organizations help many homeowners and mortgage borrowers avoid foreclosure. Do you need to know what to do because you are facing a foreclosure auction? We can help! Why not call Save My Texas Home at 512-271-5044, today?