Property Law in Texas- Avoiding Foreclosure in Texas

With the number of foreclosures growing daily, it is important for any potential home owner to take the necessary steps to avoid foreclosure. The amount of foreclosures has been increasing drastically for the past few years. For example, from the first quarter of 2005 to the first quarter of 2006 the number of foreclosures rose 72 percent. More importantly, during that first quarter of 2006, Texas reported the highest number of foreclosures with 40,236. That was over 10,000 more than the next closest state. The good news is that a basic understanding of property law in Texas can help you avoid foreclosure.

• Plan Ahead- This should be a given to anyone who plans on purchasing a house, but unfortunately people don’t always do it. Food, shelter, and health are the most important aspects of your budget. Therefore, you should plan accordingly. These 3 categories should take priority in your budget. You should also have an emergency savings account designed to help you out if you get in a bind. This account is not to be used for anything besides healthcare, food, and housing.


• Address the Problem ASAP- If you cannot make your payments, you must contact your lender immediately. Too many times, people convince themselves they can take care of it, if they just have another week or 2 to get some extra money. Instead, they should be on the phone with their lender trying to come up with a solution to the problem. Lenders are usually willing to help out their borrowers. Ask them about any opportunities they may have for financial assistance.


• Learn the Law- Property law in Texas requires that the lender must send a letter to your home informing you that you have 20 days to catch up on your payments. If you have not met their demands at the end of this period, they must then inform you that the house will be foreclosed in no sooner than 21 days. Having knowledge of property law in Texas can help you determine your best course of action.

Foreclosure Counsel

David F. Beale has the legal experience necessary to help you with all your needs. He is professional and places a priority on ethics. David F. Beale’s vast knowledge of property law in Texas can help you avoid foreclosure. Call him today at 713-863-0404.