Texas foreclosure laws are unforgiving. Foreclosing your home requires just three steps and as little time as 41 days.
So what can you do if your home is at risk?
1. Understand the Process
Foreclosure help begins by knowing what to expect. So what can you expect when they foreclose your home?
According to state law, homeowners must be given a minimum of 20 days notice. During that 20 days, those in danger of foreclosure have the opportunity to pay and settle debts to avoid losing their homes.
The second step arrives in the form of another letter to the homeowner. This letter, sent a minimum of 21 days before the foreclosure will go into effect, must be approved by the county clerk and contains detailed information including the earliest possible date your home will go up for sale.
And the final step is the sale. Texas mandates that foreclosure sales take place on the first Tuesday of every month. These sales put foreclosed homes up for auction, and that auction is open to the public.
And that is all there is to it. You can lose your home in as little as 41 days without the proper home foreclosure help.
2. Be Prepared
The last thing most people want to do when they are struggling to pay off debts is think about the consequences. Facing the harsh reality of the situation, however, will help you better prepare for it.
3. Get Help
The deadlines are set. In many cases, the court does not give extensions or allow “wiggle room.” The most important step when keeping your home is asking for help.
And foreclosure help in Texas is not difficult to find. Enlisting the help of an attorney or mortgage help center will open up opportunities you are not likely to have on your own. Foreclosure help in Texas will give you more options, including help settling on new repayment plans or putting loans into forbearance.
Mortgage foreclosure help can also afford you the one thing that you may not have on your own: time. Seeking foreclosure help in Texas grants owners the luxury of time and, in the past, homeowners have been given up to an extra five months to manage debts.
Twenty days or five months? Whether you choose to ask for help or insist on going through the process alone, you decide.
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