Foreclosure Defense Attorney
Foreclosure Defense Attorney in Arlington & DFW
Foreclosure defense can be difficult for an individual and their family because Texas is a non-judicial foreclosure state. That means the lender may foreclose upon your property without court proceedings. That is why you need an experienced Arlington & DFW foreclosure defense attorney from the Law Offices of David S. Kohm.
Texas Foreclosure Process
Homeowners in default on their mortgage can, by law, lose their home in as few as 41 days. Texas is a non-right of redemption state, there is no opportunity to reclaim your property once the foreclosure has taken place. When a borrower defaults on their mortgage loan their lender (or loan servicer) may initiate the foreclosure process. The lender/servicer is required by law to send a written notice to the borrower allowing the borrower 20 days to pay in full the amount owed to bring the defaulted loan current; otherwise, the foreclosure will be initiated.
Step One – Notice of Default/Demand Letter
- Under Texas Law a homeowner is given 20 days to cure the default
- Lender must also honors investor/insurer guidelines, which may extend the time-frame
- Default/Demand Letter outlines amount due, date it must be paid
After the allowable 20-day cure period, at least 21 days must pass before a foreclosure sale is scheduled at which time the lender is required to post the notice of foreclosure at the courthouse and file the notice with the county clerk as well as notify the borrower of the date and time of the foreclosure sale. By law, foreclosure sales/ auctions in Texas occur on the first Tuesday of each month (including legal holidays) following legal notice, and anyone may bid on your property.
Step Two – Notice of the Sale Filed, Posted, and Mailed
- Filed with the County Clerk
- Posted at your county courthouse door
- Must state earliest time the sale will be held
- Sent certified mail to all borrowers
- Must be delivered at least 21 days prior to sale date
The trustee named in the deed of trust or its representative reads the foreclosure on the courthouse steps. The sale is to the highest bidder for cash. The trustee or lender representative places a bid for the lender at either the amount of the debt or a lesser amount. A bid higher than the lender’s bid will buy the property. Title is transferred by means of a trustee’s deed to the lender or the highest bidder.
Step Three – Foreclosure Auction Sale
- Auction sale occurs on the first Tuesday of each month (including legal holidays)
- Conducted at your County Courthouse
- Conducted within three hours of time designated in notice
- Anyone may bid on your home
Once the foreclosure sale has closed, the lender or the new property owner may file an eviction notice if the former owner is still occupying the property. Evictions are served by the county constable’s offices and the notices include a court date. After the court hearing the defendant/former property owner has five days to vacate the property or appeal the judge’s ruling. After five days, the former owner will have a minimum of 24 hours to vacate the property.
Texas Foreclosure Defense Strategies
There is more than one way to save your home from foreclosure. The following are common foreclosure defense strategies include:
- Filing for Bankruptcy
- Produce The Note
- Truth in Lending Act Violations
- Truth in Lending Act Recision
- Chain of Title
- Prudential and Legal Standing to Foreclose
Allow our experienced team to represent your best interest and acquire the best settlement possible in your favor. Our Arlington & DFW foreclosure defense attorneys provide foreclosure defense through aggressive litigation. Do not delay if your home is in danger of foreclosure.
Contact us online or call our Arlington & DFW foreclosure defense attorneys for a free legal consultation.
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