What happens when a Texas judge declares foreclosure?

by oliver on September 30, 2010


What happens when a Texas judge declares foreclosure?


Foreclosure cases are usually judicial or are handled by the federal court. Once a judge declares foreclosure on a property, such as a home, the lender will have the right to sell the property in order to recover the losses caused by the current homeowner’s default.

If a homeowner is behind his mortgage payments for three months and are not able to make his payments current, the lender or the bank may request foreclosure on your property. The foreclosure process usually begins when the homeowner receives a notice of foreclosure. After receiving this document, a series of court hearing will be administered. During this time, the borrower would try to work out agreements with his lender in order to avoid the foreclosure process. If no agreements were made, the foreclosure of the property continues. After the judge’s foreclosure order, a notice of sale will be issued to the homeowner and will be posted to the local paper.

Usually, the notice of sale or auction is issued 21 days prior to the date of sale. During the foreclosure sale, the house will be sold to the public through auction. The person who gives the highest bid will win the rights to the property. After the auction, the new owner can already take over the property or home.

In case the previous owner is still occupying the area, a notice of eviction is issued, ordering the occupant to leave the property at once.

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