The mere mention of the word “foreclosure” can panic a homeowner who is struggling to keep their head above water with mortgage payments. Life can throw even the most prepared people a curveball. The death of a spouse, divorce, loss of a job, or surmounting medical bills can adversely affect financial circumstances. It is important to stay educated in the law so any emotional costs can be kept to a minimum.
When an individual, couple, or family goes through the economic hardship of foreclosure, they will likely face emotional turmoil and feel powerless and desperate. This type of financial crisis can wreak havoc on routines and upset the daily balance of “normal life.” Once the lender announces that they will begin the foreclosure process, it can make the strapped borrower feel hopeless. The stress can be overwhelming.
If this is happening to you, please realize that you have options, such as selling. There are companies that will buy homes in any condition and are prepared to make you an offer quickly. Are you asking yourself the question right now: Can I really sell my home to avoid foreclosure? The answer is: Yes, you can.
Take back those reigns. You have options right up until your home’s sale at auction. You can potentially sell your property, then pay the lender the total owed including accrued fees. Stay strong and educate yourself. It’s best to become familiar with the foreclosure process and face it head on, taking control of the process rather than living in denial or fear.
Texas law dictates that foreclosures occur in the following three steps:
The lender sends a notice in the form of a demand letter. Once the loan is found to be in default, the law says homeowner will be given 20 days to pay the balance due or to “cure” the loan.
21 days from the date of the demand letter, the sale date is set. The property is scheduled to officially go on auction to be sold. This is the date that takes the homeowner out of the driver’s seat and transfers the home to the new buyer.
On the first Tuesday of the month, the county courthouse holds its foreclosure sales. This sale is open to the public and, once final, you do not have the right to buy back your property (unless it is bought by a government entity and then different rules apply).
Waste no time. Seek the industry experts in Texas to find your timely foreclosure solutions. Reputable companies such as D&R Home Solutions seek to purchase homes and can remove the burden before a foreclosure takes place. A free evaluation will be made to review the overall condition of the property and its market value. They will also assess the costs of needed repairs. This service is a win/win for both parties.
Can you sell your Texas home to avoid foreclosure? Yes, you can, and here’s what you need to do. Call D&R Home Solutions at 214-532-7349. We buy homes in any condition. We understand how you feel, and our team of experts are here to help.