Texas Foreclosure Laws

A typical foreclosure in the great state of Texas will take an average time span of sixty days to be realized. Te lender can use either a judicial or non-judicial method to complete the foreclosure and they can file for and get a deficiency judgement against the borrower on the difference between the sales price and the amount actually owed on the property. The borrower however is not entitled to any form of right of redemption to repurchase the property or any part thereof.

The judicial foreclosure is merely the process used when the loan documents do not include a power of sale clause. The lender must sue in court to obtain a court order to foreclose.

Before actually beginning the non-judicial foreclosure process the lender must mail a letter of demand to the borrower for payment the delinquent amount within 20 days. This is the attempt on behalf of the lender to get the loan taken care of.

In the event that the borrower should fail to pay after the 20 day period has expired, and at least 21 days before the scheduled sale date, the lender must record a notice of sale with the county clerk, post the notice on the courthouse door, and mail s copy to the borrowers at their last known address.

After all of the proper preliminary notices have been giving, the sale will be held as a public auction held on the courthouse steps on the first Tuesday of any month, even if that Tuesday is a legal holiday.

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