In Texas the foreclosure process can be very simple and very fast. If you are default on your mortgage you can lose your home in as few as 41 days. There is no opportunity to reclaim your home, as in Texas there is no right of redemption after your house has already been foreclosed upon.

texas foreclosure process

Because Texas foreclosure process is so fast, you really can’t afford to waste any time getting informed and making decisions to save your home. It’s extremely important that you take action quickly if you encounter any difficulty in making your mortgage payments on time.

Fortunately there are several options available to assist homeowners in the Texas foreclosure process. Let trained housing and foreclosure specialists walk you through your options and stop your foreclosure today. Contact us today for free evaluation. We’ll not only walk you through the best options for your given circumstances, but we’ll assist you every step of the way. If you need help talking with lenders to renegotiate, we’ll help you do that. If you need help finding an investor to quickly sell your home, we can help with that too! Our services are always free and we have the experience you need to quickly find the best options and take action to save your home now!

Texas Foreclosure Process – 1, 2, 3 Steps

As soon as a mortgage borrower defaults on their loan, the lender can start the foreclosure process. By law the lender is required to send a written notice allowing the borrower 20 days to resolve things.

  1. Notice of Default/Demand Letter

    • The Default/Demand Letter details the amount owed and the date by which it must be paid
    • Texas law requires that homeowners be given 20 days to cure the default status of their loan
    • The servicer is required to also honor any insurer or investor guidelines, which may or may not extend the length of time the borrower has to resolve default statusAfter the 20-day period, at least 21 days need to pass before a foreclosure sale date and time is set. At that time the lender must post the notice of foreclosure with the courthouse, and file it with the county clerk’s office, in addition to notifying the borrower of the sale.In Texas foreclosure auctions take place on the first Tuesday of every month (including holidays). These auctions are open to the public and anyone can bid on the property.
  2. Notice of Sale must be…

    • Filed with the county clerk’s office
    • Posted at the county courthouse
    • State the earliest possible time the property could be sold
    • Sent via certified mail to all borrowers
    • Must be delivered at least 21 days before the date of sale/auction.Typically, the person named as trustee on the deed of trust (or representative) will read the foreclosure at the courthouse steps, and sale goes to the highest cash bidder. Usually, the lender’s representative or trustee places a bid for the amount of the debt or less. When the auction ends, the title is transferred to the highest bidder.
  3. Foreclosure Sale

    • Foreclosed house sales happen on the first Tuesday of every month in Texas
    • Foreclosure Auctions are held at county courthouses
    • Foreclosed house auctions must take place within 3 hours of the stated sale time
    • Auctions for foreclosed houses in Texas are public; anyone may bidOnce the auction is concluded, the new owner has the right to serve eviction notice is there is anyone still living in the property. Usually, such notices are served by county constables and have a posted court date. After an eviction hearing the former property owner typically has 5 days to leave or appeal the ruling. At the 5 day mark, the occupant will have a minimum of 24 hours to fully vacate.

Remember, the state of Texas has no redemption period, so it is very important you are aware of your options and take steps to protect your homeownership. Once a house is foreclosed upon, there are no other options.

Before you get to that point of no return in the Texas foreclosure process, take a few minutes to contact us -fill out the form or call (844) 933-2225 . We offer free foreclosure consultation and prevention assistance. We can directly assist you choose one of several options available for Texas homeowners facing foreclosure, and walk you through every step. The sooner you contact us the more options we can offer!En Texas el proceso para el juicio hipotecario puede ser muy simple y muy rapido.Si te atrasaste en tus pagos de hipoteca  puedes perder tu casa en un proceso tan rapido como 41 dias.  No hay oportunidad de reclamar tu casa, como en Texas no hay derecho de redencion despues de que su casa ya ha sido cerrada a travez de un juicio hipotecario.

texas foreclosure process

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