foreclosure process: Foreclosure Auction Selling Process in Texas
- 12/07/12 04:02 AM
Foreclosure Conduct of Sale Process in Texas What is a foreclosure?Foreclosure is a process that allows the lender to take over the property when a homeowner defaults or falls behind on mortgage payments. For complete description of what a foreclosure is and what phases does it have, please see http://www.texasfivestarrealty.com/Foreclosure_Process.asp Pre-foreclosure Process (Phase 1) in Texas: Notice of Sale Timelines When a homeowner falls behind on mortgage payments, the lender will send a series of notices to the homeowners allowing them to correct the problems, otherwise its’ intention to sell the property at auction. Per Texas Property Code 51.002 these notices … (2 comments)
foreclosure process: Foreclosure Process
- 12/06/12 03:39 PM
Foreclosure Process What is a foreclosure?Foreclosure is a process that allows the lender to take over the property when a homeowner defaults or falls behind on mortgage payments. This can be due to hardship or strategic default, which is defined below: Hardship: can include (but not limited to) job loss, reduce working hours or pay rates, unexpected large bills (e.g. medical bills), heath, divorce, some unexpected events, etc (picture from CDPE materials) Strategic default: is the case when the homeowner may be able to pay the mortgage but simply chooses to walk-away from the mortgage. This is often done … (0 comments)
Related Links:
Bahman Davani, CM at Texas Five Star Realty, Plano, TX (214) 457-7055
Homes for Sale in Plano, Frisco, Prosper, Allen TX
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