How to Stop Foreclosure in Houston

If you are facing a foreclosure in Houston, one of the most important things you need to be aware is the time frame you have before your property gets auctioned. A foreclosure can be scheduled in as little as 21 days. This means that you have 3 weeks to stop foreclosure in Houston before you lose your property at the auction. Although, there are warning signs before you get to this final phase of the foreclosure process. This Pre-Foreclosure phase begins when you receive a “Notice of Default” letter stating that you have about 3 months before the house is sold at the auction.

Foreclosure is a tough situation that can happen to anyone, we have helped numerous home owners during this process. Please select the option that best meets your needs…

I Need to Stop Foreclosure in Houston, What can I do?

In this section, we will continue explaining the foreclosure process and the options available to you. One of the most important things to do is to understand the foreclosure process in Houston.

When you have received the “Notice of Default” letter from the bank it means that they have started the legal process to repossess the property. To learn more about “What is a Pre-Foreclousure in Houston“, read here. At this point, it is recommended to start analyzing what route you want to go with your property, Keep it or Sell it? If you have found that you can no longer afford the mortgage and bills on your house, selling it may be the better choice of the two. The sooner you decide which route you want to take, the more options you will have to choose from. If you wait until the last minute (a week or two before the auction), there is a possibility that the house won’t be able to get sold before the foreclosure if title issues come up like unknown liens.

The bank will start the foreclosure process because there has been a series of missed payments (usually 6 months of missed payments), this means that one way to stop the foreclosure is to come up with the “reinstatement” money that includes all the late payments, attorney fees and additional fees the bank may incur. At times, the bank will require the full loan amount to be due before the foreclosure date in order to stop the foreclosure. This is often unrealistic for many homeowners as it is rare that homeowners have over $100,000 sitting in the bank account. You can try talking with the bank to see if they can work with you and determine a solution that will help all involved. This is where some homeowners decide to get a “Loan Modification”. Often with loan modifications, the late payments are added to the total principal left on the loan. One thing to consider if pursuing a loan modification is the amount that the monthly payments may increase as well as the length of time the loan will be active for. This is important because if your monthly payment jumps up by a couple hundred dollars then you may find yourself in a similar situation in the future.

Want To Learn How To Avoid Foreclosure in Houston Now?

If you are in foreclosure and want to learn how to stop foreclosure in Houston now?  We’ve created free online guides to help homeowners just like you find out your options on getting out of this tough situation. Some home owners are unsure and ask “Can I sell my house in foreclosure in Houston?” but this is possible.

You aren’t the last person that finds themselves in this tough situation…and not the first either. These situations happen for a wide range of  circumstances and the outcomes always vary. There have been cases where homeowners have stayed in the home after foreclosure in Pasadena and other cases where the foreclosure process has dragged on for several years.

The best thing you can do right now is educate yourself on your options.  For some people selling your home is the best option (we’ll make a fair all cash offer on your house today, just let us know about your situation in our form below), sometimes we’re able to help homeowners STOP FORECLOSURE completely, and sometimes there are other options.  So, click one of the buttons above to get your free foreclosure guide. If you have any questions about the foreclosure process please feel free to contact us. We are here to help and navigate this difficult process and provide an option for avoiding foreclosure in Houston.