Thousands of homeowners come to Avoid Foreclosure each year to learn how to stop foreclosure in Texas fast. Every state has strict legislation of what can and cannot be done in a foreclosure. Texas is one of few states that has both judicial and non-judicial foreclosure. If you are just researching this information, the difference between the two are as follows. Your lender or bank needs no approval from the state to expedite foreclosure with a non-judicial foreclosure. In a judicial foreclosure, the opposite is true for a homeowner. A lender or bank must seek out approval from the court before any action can be taken against you. Keep in mind that the only action that mortgage holders are interested in is how fast they can get you out of a home.
Stop Foreclosure in Texas
There are some ways you can avoid foreclosure when you own a home in the state of Texas. Knowing the process of what you are up against is helpful before you attempt any strategies. Many foreclosures that are happening right now are non-judicial. This directly benefits lenders because they do not want to waste time on court approval. The standard mortgage agreement generally has an inclusion that states that anytime after two or more missed payments a lender can take further actions for settlement. The first action that they are allowed to take is to notify you in writing. This is commonly called a notice of default. This letter informs you officially that your payments are overdue and will give you explicit instructions on what to do to resolve the past due payments.
If you do not respond to a notice of default, about three weeks of time will go by and you will receive another notice. This notice will not remind you that you are behind in payments. This new notice is a bit more harsh. A bank or lender will outright tell you what day, place and time that they will be selling your property. This is known as a notice of sale. Before you receive this notice is when negotiations should have taken place. Things like a loan modification, forbearance or even deed in lieu of foreclosure could have been requested. Some homeowners outright ignore notices and others do not know what to do or how to respond. Regardless of the state of foreclosure you are in, we can help provide you with the solution you need to stop foreclosure in Texas from ruining your family life.
“Stop Foreclosure in Texas”
Avoid Foreclosure is comprised of a group of financial specialists that know foreclosure and how it can be stopped in Texas. We help homeowners in all 50 U.S. states to get out from under the grip of their lender or banker. It’s a confusing time when going through what could be the final days of your home ownership. Doing something about your issue now will buy you enough time to let us help you. Call 1-800-589-4106 right now. We have the time, knowledge and experience to help you stop foreclosure in Texas.