One of the biggest surprises for many homeowners about the Texas foreclosure processes is that it’s actually a fairly fast process from start to finish. When it comes to losing your home in a foreclosure, by law that can happen in under just a few months. That’s why it pays to take quick action and learn your rights when it comes to home foreclosure in Texas, as your knowledge can make a big impact on the final outcome.
You know that missing a mortgage payment is bad, but did you realize that missing just one payment can start to negatively impact your credit score and can also start the process rolling for you losing your home? Texas foreclosure attorneys recommend taking immediate action – even if you just think you might miss a payment – to avoid it turning into a messy situation. Asking for help is the first step, and that typically comes in the form of contacting an attorney who can inform you of you rights and guide you through the process.
Perhaps the most important thing to remember about foreclosures in Texas is that once the process has been completed, your home is gone forever, so act carefully and don’t make any hasty decisions when it comes to your home. You should always do what it takes to save it versus just letting it go, but should you lose it, an experienced attorney can help you through every step of the process.
There’s no way to plan for something like losing a job or having a medical incident that causes you to lose your income and make you unable to make your mortgage payments. No matter why you are facing foreclosure, talk to an attorney to learn about your rights as soon as you suspect there is a problem with your finances. If you have missed one mortgage payment or several payments, the time to act is now, so don’t hesitate to ask for help today.