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Most homeowners do not know that in Texas, a mortgage company can foreclose upon notice of only twenty days. When you fall behind on your mortgage payments, you put your home at risk of foreclosure. The attorneys at The Price Law Firm’s can help stop foreclosure immediately and put a payment plan in place that will allow you to catch up on your missed payments.
In all likelihood, if you are in a situation where the mortgage company has stopped taking your mortgage payments, the foreclosure process may have already started. Do not wait any longer and risk losing your home. For a free consultation and evaluation, call The Price Law Firm at 817-766-7818.
What is Foreclosure?
Foreclosure is the process in which the mortgage company (i.e., the owner of your home loan) is allowed to sell your home to satisfy the debt that you owe. Foreclosure almost always involves a lawsuit in which the bank, mortgage company, or other lienholder seeks to take possession of the property to satisfy your debt. Through the foreclosure process, the mortgage company will take ownership of the property or have the property sold to pay the debt. As the homeowner, you lose whatever rights you had in the property as a result of the foreclosure. The bottom line is, you will likely lose your home to foreclosure if you stop making your mortgage payments or fall too far behind on your mortgage payments.
The Price Law Firm can help you if you’ve failed to pay your mortgage on time or if you used your house as collateral to borrow money and failed to pay it back. The foreclosure process usually starts with a letter (titled Notice of Default) from the mortgage company demanding payment. If you have received a demand for payment concerning your house or property, contact The Price Law Firm and we will review the letter and explain your options.
Most people make the mistake of doing nothing after receiving the Notice of Default letter. When you do, you only increase the risk of losing your home.
Don't wait. Call The Price Law Firm at 817-766-7818 for a free consultation.