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Have You Received A Notice of Default on Your Central Texas Home?

Posted by Keller Home Solutions in Avoiding Foreclosure, Sell Your Home, Uncategorized | 1 comments

25.10.19

Have You Received A Notice of Default on Your Central Texas Home?

Have you ever been given a notice of default on your Central Texas home before? A Notice of Default is a document that a lender files to begin the process required for foreclosure. This document is sent to people that are interested in a specific property and a copy is given to other parties that are owed money.

Even more, this notice must be placed on the property for everyone to see as well as printed in a newspaper.

Going through the process of foreclosure can be very embarrassing for the defaulter, but it’s actually necessary for the protection of consumers. Before the advent of the law that required a notice of default to be sent to the defaulter and all other parties involved, people were sometimes foreclosed on without any prior warning. 

The notice of default is a very critical step in the foreclosure process that gives everyone with an interest in the property the opportunity to step forward, renegotiate their mortgages and claim their rights – before it’s too late.

If you’ve received a foreclosure notice of default, it’s very important to move fast and take any appropriate actions necessary, as time is of the essence.

Below are some of the steps you could take if you have received a notice of default:

Remain Calm

This may seem like the obvious first step, but it’s actually very difficult not to panic in the face of foreclosure. Facing a foreclosure involves dealing with a lot of anxiety and stress about the coming days, beyond just the property. 

These situations will take a while to resolve, and you will be best served by staying cool, thinking logically, to be able to come up with solutions to the predicament. Panic leads to making bad decisions, so try and stay cool.

Research the Foreclosure Process

Try as much as possible to learn about the foreclosure process and laws in Texas so you can be adequately prepared for what comes next.

Look into Available Resources

You need to find out what your options are. Some organizations are available to help you avoid foreclosure. There are also plenty of non-profit and government resources readily available for you and at your disposal. 

You’ll want and need good legal and tax advice from experts along the way. It would be best not to try and do everything alone. It’s okay to ask for help, as foreclosures can be quite complicated with lots of rules.

Research and find out what your options are and pick the best one available to you based on your individual circumstances. There are plenty more options out there than you realize.

Communicate, Communicate, Communicate

The banks involved don’t want your property. They only want their money back. 

Communicating effectively with the banks may could help slow down or terminate the foreclosure process if the appropriate action is taken and new terms are agreed upon. Time is always of the essence after receiving a notice of default. It’s always important to act fast and appropriately.

Should you need help from a REALTOR® that can answer questions, give us a call. We are not attorneys and do not provide legal advice, but we do have the resources and are happy to share them with you.

Are you dealing with frustrating tenants or family members that you can’t get rid of?

Posted by Keller Home Solutions in Uncategorized | 0 comments

16.10.19

Are you dealing with frustrating tenants or family members that you can’t get rid of?

There are many reasons homeowners decide to sell. Unable to afford the mortgage with growing property taxes, downsizing because they don’t need all the extra space, or they’ve decided to cash in on their equity to move on to greener pastures.

There’s a whole host of reasons homeowners look to sell.

Situations also arise where selling becomes a more comfortable option. For instance, when you have tenants or family members that refuse to leave. 

Having them removed from the property via eviction seems like a drastic measure but, sometimes it is warranted. Especially if you’ve asked nicely and the “tenant” still refuses to budge. 

It’s always a good idea to have a lease. Yes, even with family members. It sets boundaries and expectations that are easier for a judge to understand if it comes down to an eviction. That is less likely if there was only a verbal agreement. 

First things first, determine what rights you have in the State you reside in. Are there clear rental laws? Is an eviction required? In places where an eviction is necessary, it is good to know your rights and procedures. 

Serve your tenant with a notice to vacate. Include the reason for the eviction and the deadline that they are expected to leave the premises. 

If the tenant does not leave by the date stated on the notice, it is time to file the eviction with the appropriate channels. In other words, the courts in your district. You will go before a judge to plead your case at which time you could receive a judgment in your favor or a writ of possession. 

Once the tenant receives the signed off eviction order, and if they still refuse to leave, your only recourse is to contact your local Sheriff’s office. They will evict the tenant on your behalf. 

Removing a tenant is always stressful, especially in cases where that tenant is a family member. It’s good to remember that ultimately, you are the homeowner. What does or does not happen on your property is your decision. If the time has come, and no other recourse is available, to file an eviction. Know your rights. 

At the end of the day, if you are still looking to sell because a rental property is no longer a benefit to you, give us a call and we’ll help make things as simple as possible. It’s your home. It’s your decision.