In 2012, Texas reported one of the highest numbers of completed foreclosures in the nation - a total of more than 56,800. Unfortunately, the nation's current economic client has made life difficult for many mortgaged homeowners. Too many honest, hardworking men and women who have kept up on their mortgage payments for years have been suddenly forced to worry about losing their homes in the wake of an unexpected medical emergency or job loss.
If you are behind in your mortgage payments, it is never too early to get the help of an Arlington bankruptcy attorney who can help you make the informed, proactive decisions necessary to keep your home.
In Texas, mortgage lenders are required to serve a notice of default at least 20 days prior to serving a notice of sale, which must in turn be mailed to the property owner at least 21 days before the sale. The foreclosure statute for the state can be found in Tex. Prop. Code Ann. § 51.002. There is no right of redemption in Texas law - meaning that after a foreclosure, the homeowner does not have to opportunity to redeem his or her property.
Most foreclosures in Texas are non-judicial, meaning they do not have to go through the court process required in some states. Because of this, Texas foreclosures tend to move quickly, averaging just 159 days from start to finish. It is strongly recommended that you work with an experienced Arlington foreclosure lawyer if you wish to protect your home.
You deserve strong and effective advocacy, and our firm is prepared to help you by offering compassionate counsel and tenacious support. To find out if Chapter 13 bankruptcy or another form of debt relief may effectively protect your home from foreclosure, call our Arlington bankruptcy attorney at the Law Office of Marilyn D. Garner to schedule a free case evaluation. During this no-obligation meeting, we can look closely at your situation, discuss your options, and take steps toward protecting your interests.
If your mortgage is higher than the value of your home, you may be willing to walk away from the property if it means you can also stop making payments. In the event of an upside down mortgage, a deed in lieu of foreclosure or short sale may be the right alternative for you.
Call our Arlington law firm today at (817) 381-9292 to discuss your options in a free initial consultation to see how we are prepared to deliver swift, attentive legal support.