How to Stop Foreclosure in Texas

How to Stop Foreclosure in Texas

In today's America, it's easy to fall behind on your mortgage payments. Texas, however, makes it very easy for mortgage lenders to foreclose on borrowers who have defaulted on their obligations. It is important to know how to stop foreclosure in Texas if you have fallen even slightly behind on your payments, because it can take as little as 60 days from the time you miss a payment in Texas to the time you are evicted from your now-sold foreclosed home. This guide will explain how to stop foreclosure in Texas before your house is sold and your credit is shattered.

What is Non-Judicial Foreclosure?

The reason that Texas is such a bad state for foreclosed borrowers is that the foreclosure process is “non-judicial.” When courts are involved in foreclosures, the judicial hearings and notice often take months, giving borrowers plenty of time to figure out a solution other than foreclosure. Texas, however, does not require courts to be involved in a foreclosure at all. Your lender is authorized simply to sell your house if you do not make payments.

It can be harder to know how to stop foreclosure in Texas than in a judicial state. You definitely have fewer options. Generally, there are three sources you should think of first when trying to figure out how to stop foreclosure in Texas: your lender, the Department of Housing and Urban Development (HUD), and a bankruptcy or foreclosure lawyer.

How Can My Lender Help?

The earlier in the foreclosure process it is, the easier it is for your lender to explain how to stop foreclosure in Texas. You should be honest about your financial situation with your lender, even if the truth is that you can no longer afford to make your monthly payments. Many times, lenders will explain how to stop foreclosure in Texas by changing the terms of your mortgage to give you a lower payment.

For homeowners suffering from temporary financial problems, lenders may give you a forbearance. Forbearances allow you to delay some payments until you're back on your feet. Talking to a lender about how to avoid foreclosure in Texas may be able to give you peace of mind. If you cannot come to a solution with your lender, your next step should be HUD.

How Can HUD Help?

HUD can help explain how to avoid foreclosure in Texas using several methods. They may be able to help you by talking to your lender and working out a payment plan that will get you back on track with your mortgage. They can also provide counseling to help you keep your home. You may also want to consult with a foreclosure or bankruptcy lawyer.

How Can a Lawyer Help?

Foreclosure and bankruptcy lawyers know how to stop foreclosure in Texas. They may see problems in the foreclosure documents or your original mortgage that can stop the foreclosure, or they may advise you about how to stop foreclosure in Texas using Chapter 13 bankruptcy statutes. If talking to your lender hasn't worked out, it's time to get a lawyer to save your home and your credit.