Houston Foreclosure Attorney
What is Home Foreclosure?
The home is the center of family life. The home is the most important asset of many Americans. Losing one’s home involves significant financial loss and emotional loss.
Texas provides many protections for homeowners. A Texas homestead cannot be seized by most creditors. Generally, a homestead can only be reached to pay debts for taxes and for liens voluntarily incurred when purchasing or improving the home.
However, protection of Texas homesteads is not complete. The State of Texas allows non-judicial foreclosure by mortgage lenders. Under a typical Texas mortgage a lender can post the home for foreclosure without first obtaining a court order if lender determines that the homeowner is in default on the mortgage.
Real property mortgage foreclosures are posted for foreclosure at the courthouse in the county where the property is located. Foreclosures in Texas take place on the first Tuesday of each month. Foreclosure postings must be made 21 days before the foreclosure date. At the foreclosure sale the mortgage company can bid on the property. Third parties can also bid on the property. Often, the mortgage company “credit-bids” an amount for the property. The amount bid by the mortgage company is credited to the amount owed by the homeowner. At the conclusion of bidding, title to the property is passed to the buyer and the former homeowner is forced to move out of the home.
Keeling Law Firm: Your Home Foreclosure Defense Lawyer in Houston
As seasoned home foreclosure defense lawyers in Houston, Keeling Law Firm is your reliable partner in navigating the complexities of home foreclosures. We're well-equipped to address your specific needs and provide comprehensive assistance. Contact us for detailed insights into the home foreclosure process.
How to Stop a Foreclosure with Chapter 13 Bankruptcy?
Chapter 13 of the United States Bankruptcy Code allows a homeowner to stop a foreclosure and to submit a plan of reorganization to cure the mortgage default. Under a Chapter 13, the homeowner makes regular mortgage payments to a Chapter 13 Trustee plus additional payments to get caught up. Chapter 13 reorganizations generally involve a 5-year plan period.
Important Considerations in Home Foreclosure
In order to stop a foreclosure, it is important that the Chapter 13 reorganization be filed before the foreclosure date.
Note that a Chapter 13 plan generally does not reduce the amount of the mortgage payment. However, a Chapter 13 plan often includes comprehensive reorganization of debts, including payment of substantially less unsecured debt. Depending on the facts of each situation, a Chapter 13 plan can often achieve a reorganization that works for the debtor.
As a Houston foreclosure attorney, Keeling Law Firm can answer all your questions. Filing a Chapter 13 reorganization is complicated. Do not wait until the last minute. If you are behind on your mortgage payments, schedule a meeting with an experienced home foreclosure defense lawyer in Houston.
Contact us today to learn more about how Keeling Law Firm can help you stop foreclosure and other services we have to offer such as:
- Vehicle Repossession
- Wage Garnishments
- Medical Bills
- Credit Card Debt
- Payday Loans
- IRS Debt
- Loan Modifications
- Student Loans
- Property Tax
- Being Sued?
Click here to Request More Information or call us today at 713.686.2222