Have you received a Notice of Default on your Central Texas home and aren’t sure where to turn? At Keller Home Solutions, we work to provide insight and assistance to Texas homeowners who are facing financial challenges, including those related to foreclosure: Notice of Default, Notice of Sale, and Foreclosure Sale.
When can a lender start foreclosure?
In most cases, you must be 120 days delinquent before any foreclosure activity begins. While it’s uncommon, smaller lenders and community banks can start foreclosure even if you are only one day past due. It’s important to note that the lender is only required to send you two notices before a foreclosure sale.
In most cases, foreclosure in Texas involves three steps, and the Notice of Default is the first in that process.
What is the Notice of Default?
The Notice of Default is a demand letter from your mortgage lender or servicer that is required by law. It notifies you that you have 20 days to “cure” your defaulted mortgage loan (pay the amount owed in full). Occasionally, this timeframe is increased to 30 days, and this is found mostly with FHA, VA, and home equity loans).
How can I prevent a foreclosure from happening to me and my family?
Believe it or not, you do have options. If you want to remain in your home, talk with your mortgage lender about a structured repayment plan, a temporary forbearance, or a loan modification. However, those aren’t your only options.
If you’d rather not go through the fuss and frustration of haggling with your mortgage lender, we’ve helped many homeowners avoid the foreclosure process completely. At Keller Home Solutions, we specialize in helping individuals get “back on their feet” by making a fair all-cash offer on their home.
A fair, all-cash offer from Keller Home Solutions empowers you to move on to your next chapter in life–to start fresh, and it takes the hassle and uncertainty out of selling your home. There are NO fees associated with our fair cash offer, and you can also avoid hefty REALTOR® commissions, costly property updates and repairs, and inconvenient showings that accompany a traditional home sale.
If you’re ready to receive an equitable, all-cash offer on your home today, click here to get started. Or, if you need immediate assistance, call us at (512) 518-1923.
*Resource used: https://texaslawhelp.org/article/foreclosure-fact-sheet-0.
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