Foreclosure in Texas: Your Options to Stop It Before It’s Too Late

Facing foreclosure can be overwhelming, but knowing your options can turn the tide. In Texas, where real estate rules are unique, timely action and the right strategies can help homeowners protect what matters most—their homes.

Understanding Foreclosure in Texas

Foreclosure is the legal process where a lender sells a property to recover unpaid debt. In Texas, this can happen in two ways:

1. Mortgage Foreclosure: Triggered when homeowners stop making their mortgage payments.

2. Property Tax Foreclosure: Initiated wh

   
   
   
   

   en property taxes remain unpaid for an extended period.

   
   

Stopping Foreclosure: It’s Not Over Until It’s Over

Foreclosure moves quickly in Texas, but homeowners have several options to fight back. Here’s what you can do to keep your home:

1. File for BankruptcyFiling Chapter 13 bankruptcy can stop foreclosure and allow you to repay missed payments over three to five years. While it’s a serious decision, it’s an effective tool for buying time and creating a repayment plan.

2. Loan Modification or Repayment PlanNegotiating with your lender could lead to adjusted loan terms or a structured plan to catch up on missed payments. This can make your mortgage more manageable and prevent foreclosure.

3. Forbearance AgreementIf you’ve experienced a temporary financial setback, lenders might agree to pause or reduce your payments for a set period, giving you breathing room to recover.

4. Refinance Your LoanRefinancing can help if you qualify for better loan terms or a lender willing to work with you. While challenging in a rising interest rate environment, it’s still a potential solution for some homeowners.

5. Proactive SaleSelling your home—whether through a traditional sale, a short sale, or a deed in lieu of foreclosure—can help you settle your debt and avoid foreclosure’s lasting impact on your credit.

6. State AssistancePrograms like Texas Homeowner Assistance offer counseling and mediation to help you explore your options and potentially prevent foreclosure.

   
   

Understanding Texas Foreclosure Timelines

In Texas, lenders can start foreclosure after 90 days of missed mortgage payments. Homeowners typically receive a Notice of Intent to Accelerate and, after 120 days, a Notice of Sale. From there, the property is advertised for auction. The foreclosure is final when the property is sold at auction, but homeowners still have the right to redeem their property by paying off all debts, fees, and legal costs before the sale.

What Happens After Foreclosure

Once a foreclosure sale occurs, the clock starts ticking on eviction proceedings. While Texas doesn’t provide a statutory redemption period after the sale, you still have rights. Working with an experienced attorney can help you navigate this challenging time.

Dallas and Beyond Real Estate Group: A Partner You Can Count On

If foreclosure feels inevitable, Dallas and Beyond Real Estate Group offers a straightforward solution. Our team specializes in purchasing homes quickly, giving homeowners a chance to avoid foreclosure and start fresh.

Missed payments, legal notices, and auction dates can feel insurmountable, but with Dallas and Beyond Real Estate Group, it’s never too late to find a way forward. We’re here to help you explore your options and make the best decision for your future.

Call us at 469-305-7151 to learn how we can support you. Let’s work together to protect your peace of mind and move forward with confidence.