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  • Did you realize that your mortgage lender can legally foreclose in a period of 20 days after giving you notice? If you are a home owner and are behind with mortgage payments, there could be a risk that your home could be foreclosed, but there is help available!

    Stopping Foreclosure Ensures Your Family A place to Live

    The Bright Law Firm’s founder, Richard Weaver, built his practice to assist people with their financial concerns, including especially the ability to stop foreclosure on a home immediately. This is accomplished through a chapter 13 bankruptcy. Through a chapter 13 bankruptcy repayment plan, you will be given the opportunity to get your mortgage caught back up over a period of five years. At the same time, you will be able to shed yourself of unsecured debt like credit cards, medical debt, and payday loans.

    If your mortgage company has sent back payments, or has discontinued allowing you to pay your mortgage, filing a chapter 13 bankruptcy can halt the foreclosure process. If your mortgage company will not accept anything less than the full amount due, then the foreclosure process has already started and you should not wait at this point until you lose your house. You can call 972-810-1400 to receive a free foreclosure prevention consultation.

    What Is Involved In the Foreclosure Process?

    Foreclosure is a lawsuit from a mortgage company, a home lender, or any other party who holds a priority lien who seeks to foreclose and take your home to pay a debt. The home lender can take ownership and possession of your home and property or they could put the home up to be sold to third parties at a foreclosure property auction. If the foreclosure process is allowed to come to completion, you lose any rights which you previously had for the home and property.

    If you have been unable to pay your monthly payment on time, banks are legally allowed to bring a foreclosure action against you. In home foreclosure, the lender ultimately wants a good outcome, because the foreclosure process costs an average of $50,000 or more for a bank. At the Bright Law Firm, our foreclosure defense attorneys can make this challenging and stressful situation into a positive outcome. We can help you keep the home, and in the process, we make it so that the lender resumes getting payments. The lender is forced to go along with this whether or not they want to.

    Foreclosure usually begins with a certified letter demanding payment. This formal demand letter is called an NOD (Notice of Default). Later, a letter comes from the law firm representing the bank or other seller stating that if the home is not brought current, it will be sold on a specific date. In Texas, foreclosure sales occur on the first Tuesday of the month, meaning that the soonest they would be able to sell the home in foreclosure would be the first Tuesday of the following month.

    We Can Answer Your Questions about Texas Home Foreclosure!

    If you have received a foreclosure letter, do not wait to call our law firm. By calling the Bright Law Firm today, at 972-810-1400, you will quickly receive powerful legal advice from trusted and caring attorneys and legal helpers. We can speak with you over the phone or meet in person for a no-obligation and free consultation to answer questions. We can help you determine which option is best for you to solve problems with your mortgage and other debts.