As much as we hate to admit that we have fallen into a financial slump, sometimes things occur that are out of our control and result in this happening. If you are currently unable to make your mortgage payments and have recently learned that your lender is on the verge of initiating the foreclosure process, you do want to take some sort of action. If you ignore the letters and phone calls you are receiving, your lender is going to assume you aren’t planning on paying which will result in them pursuing the foreclosure process so they can reclaim the money that is due.
When you sign a mortgage agreement, you are promising to repay your lender under the terms set in the contract. When you break your promise and fail to pay, your lender is going to look for other ways to receive their money and that is generally through foreclosure. But, you don’t have to lose your home if you become aware of what resources are out there to help you. Did you know that a Texas foreclosure attorney can help you through this process? Not only are they full of advice, but they can inform you of the many ways you can avoid foreclosure along with helping you throughout the entire process if this is your only option to fulfill your financial debt to your lender.
What are Some Foreclosure Prevention Resources?
Losing your home probably isn’t something you are comfortable with and you may be in search of ways to prevent this from happening. The Texas Department of Housing and Community Affairs offers some resources for homeowners who have defaulted on their home mortgage. The resources are provided for you below.
- Housing and Urban Development (HUD): Free Foreclosure Intervention Counseling- HUD will provide you with a free certified counseling agency who might be able to allow you to keep your home. You can click here to find a location that is closest to you in the state of Texas. And if you need further advice, our Texas foreclosure lawyers are more than capable of providing that to you along with much more that can help you through this difficult time.
- Homeownership Preservation Foundation (HPF)- The Homeowner’s HOPE Hotline is a counseling service and it can be reached by calling 1-888-995-4673.
- General Mortgage Information- There is a lot to know when it comes to a mortgage and how you can avoid foreclosure. The Attorney General of Texas has a role and that is to serve and protect the rights of the citizens living in Texas. The following links are to helpful information provided by the Attorney General for those homeowners who are struggling to keep up with the mortgage payments they agreed to pay.
While these resources are useful, keep in mind that our foreclosure attorneys in the state of Texas are going to dedicate themselves to you and have your best interest in mind. Your home is probably your largest asset, one you aren’t willing to part with. Therefore, while it is important to obtain some sort of counseling and gain as much information as possible, you need a professional that will work for you to keep your home.