Texas is a non-judicial foreclosure state, which means that foreclosures usually do not go through a court before finalization. David A. Himes and Associates PLLC offers Spring, TX resident professional representation and negotiation services designed to stop the foreclosure process and keep residents in their homes. If you are having trouble making your house payments and getting foreclosure notices from your lender, let us help you stop the process or work through it with a clear understanding.
Most mortgaged deeds of trust contain a clause called a power of sale, which allows the lender to recover the cost of an unpaid loan by auctioning off the property. Because a judge does not oversee the process, the lender must abide by very strict notice requirements and issue certain legal documents before a foreclosure auction can go forward. These requirements include:
• Demand Letter—The lender must send a demand letter to the borrower requesting payment of past due amount within twenty days of receipt of the letter.
• Notice of Foreclosure—After the twenty days expires without payment, and at least three weeks before the foreclosure auction, the lender must file a foreclosure notice with the county clerk, mail a copy to the borrower and any lien holders, and post notice of the location of the auction with the county clerk.
• Sale—The auction must take place on the first Tuesday of the following month between 10 AM and 4 PM at the courthouse, even if that Tuesday is a legal holiday. The property is sold to the highest bidder at the auction.
If you are getting threats or foreclosure notices from your mortgage company, do not go through it alone. Call the experts at David A. Himes and Associates PLLC of Spring, TX and get the help you need.