Foreclosure Defense

The Lane Law Firm has helped over 11,000 Texans avoid losing their property to foreclosure. We're here to help you, too.

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FORECLOSURE RELIEF

Get Texas Foreclosure Help From The Lane Law Firm

Your home is your family's safe haven. If you're facing extenuating circumstances like job loss, divorce, hospitalization, or the death of a loved one, the last thing you need to face is foreclosure. At The Lane Law Firm, we want you to know that you have options. After all, the banks have lawyers to protect their rights — so should you! The foreclosure process is short, so the sooner you can find an attorney to represent you, the better your outcome is likely to be. 

Don't lose your home to foreclosure. The Lane Law Firm's experienced foreclosure defense attorneys are here to help negotiate the best possible resolution for you and your family.

Bankruptcy isn't the only option. If you're at risk of foreclosure, The Lane Law Firm's experienced foreclosure defense attorneys are here to discover and deploy the best resolution for you and your family.

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FORECLOSURE RELIEF

How We Help Texas Homeowners Stop Foreclosure

When facing foreclosure, many people think bankruptcy is the only option. While filing bankruptcy can slow the foreclosure process, it has long-lasting and far-reaching consequences. At the Lane Law Firm, we DO NOT believe that bankruptcy is the best foreclosure defense option for most clients. 

Before we do anything, we evaluate all available options. Then, we assess which of the many tools in our arsenal is best suited to stop the foreclosure, and help you achieve your long-term goal.

 

FORECLOSURE RELIEF

Our Foreclosure Defense Services

Temporary Restraining Order

What is a temporary restraining order (TRO)?

A temporary restraining order, or TRO, is a legal document issued by a judge before trial that forces or prevents an action. In the case of foreclosure, a TRO, when accepted by the judge, can pause the foreclosure process long enough for you to negotiate a positive resolution with your attorney

Who files a TRO?

To file a TRO, you need help from an experienced foreclosure defense attorney. A judge decides each case based on unique merits, and once a TRO is granted, your attorney must work immediately to negotiate the best possible resolution for you and your family. That's why it's so important to choose an experienced firm, like The Lane Law Firm, which has saved thousands of families from foreclosure. 

 

When is a TRO the Best Choice?

A temporary restraining order is the best option for most homeowners. It is the fastest way to pause a foreclosure and gain precious time to negotiate a favorable outcome for you.

Loan Modification

What is a loan modification?

A loan modification is an agreement between the borrower and the mortgage company to change the original terms of the mortgage — including the amount, length of the loan, interest rate, and more. The goal of a loan modification is to prevent foreclosure and keep the homeowner in their home by lowering mortgage payments to an affordable amount. 

 

Depending on your situation, The Lane Law Firm's experienced team of foreclosure defense attorneys can delay or even halt your foreclosure while a loan modification is negotiated. 

 

Advantages of a Loan Modification

Loan modification is an ideal solution for most homeowners, as it allows you to keep your home and prevent foreclosure. While loan modification is a great option, it is only available if the mortgage company believes modification is in their best interest. That's where an attorney can help.

 

When is a Loan Modification the Best Choice?

Loan modification is an option for homeowners who want to keep their home and stop the foreclosure process. If you had originally fallen behind on payments, are now able to make payments again, but just don't have the ability to pay the full amount due, you may be a good candidate for a loan modification. The most frequent cause for foreclosures is a sudden and temporary change to the financial condition of the household, including: 

 

  • Birth or death in the family
  • Extended and unexpected hospital stay
  • Caring for loved ones
  • Divorce
  • Change in job or working conditions

If you have undergone any of these difficult situations and are now able to make payments again, but your home is at risk of foreclosure, loan modification may be an option for you.

Short Sale

What is a short sale?

A short sale, also known as a pre-foreclosure sale, is when the bank agrees to sell a house for less than what they are owed. "Short" in short sale refers to the payoff being less than what is owed on the home, rather than the time required to complete the sale. In fact, short sales can be quite lengthy, averaging 3-9 months or more to complete. Because the banks will continue to foreclose on a home, even if you are working to secure a sale, it's important to connect with an experienced attorney when arranging a short sale. 

 

The Lane Law Firm is the largest and most experienced foreclosure defense firm in Texas. We've helped over 1,000 families complete a short sale and move on from a troublesome home — we're here to support you too. 

 

Advantages of a Short Sale

A properly negotiated short sale can help you: 

  • Avoid foreclosure
  • Minimize/eliminate negative credit reporting
  • Avoid lawsuit and deficiency judgment
  • Gain additional time in the house (typically without mortgage payments)
  • Complete debt forgiveness
  • Minimize tax burden
  • Achieve a cash settlement  
  • Gain relocation assistance 

 

When is a Short Sale the Best Choice?

A short sale is the best choice for a homeowner who has little-to-no equity in the home, and who doesn't have the financial ability or desire to seek a loan modification.

Wrongful Foreclosure

What is wrongful foreclosure?

Although it is always preferable to stop a foreclosure before it's finalized, if the process was conducted improperly, there are legal grounds for wrongful foreclosure. Wrongful foreclosure is a legal process that homeowners can take to potentially reclaim their home, though wrongful foreclosure is very uncommon in Texas. 

 

When is wrongful foreclosure possible?

Most foreclosures in Texas are not redeemable, which means there isn't an automatic process for reclaiming the property following the sale at auction. That said, there are a few notable exclusions where a wrongful foreclosure may be possible. 

 

  • Foreclosure is due to the failure to pay ad valorem property taxes
  • Foreclosure by a homeowners association

How will an attorney evaluate a wrongful foreclosure?

While your foreclosure is pending, The Lane Law Firm can take measures to delay or even prevent it from happening. One key element of this process, which relates to evaluating for wrongful foreclosure, is to ensure that the bank has followed the rules throughout the foreclosure process. For example, an attorney will evaluate the following:

 

  • Did you receive a notification letter?
  • Did you receive proper accounting of what you owe?
  • Did the bank stop taking your mortgage payments?
  • Were you given the opportunity to seek loss mitigation options?

If any of these are true, it's best to consult an attorney who can fully evaluate your situation.

Bankruptcy

If you are facing insurmountable debt, and you're worried about home foreclosure, vehicle repossession, or wage garnishment, bankruptcy may be an option. That said, bankruptcy is not an option we take lightly. Its consequences are far-reaching and long-lasting. You should not attempt to file bankruptcy to stop foreclosure until you've talked to a reputable, experienced bankruptcy and foreclosure attorney. 


With decades of experience in both practice areas, The Lane Law Firm has the knowledge you need to make the best decision for your finances and your family. We offer free, confidential consultations to evaluate how we can best stop your foreclosure and eliminate debt.

Personal Bankruptcy

FORECLOSURE RELIEF

Understanding the Texas Foreclosure Process

The foreclosure process in Texas depends on the type of mortgage that is being foreclosed upon: a purchase money loan or a home equity loan. It's important that homeowners understand the steps for the Texas foreclosure process, so you know how much time you have left, and when to call an experienced attorney. Let's look at the process for each type of mortgage.

Purchase Money Loan

What is a purchase money loan? 

A purchase money loan is a loan to purchase a home. In a traditional purchase money loan situation, the homebuyer makes a down payment on a new home, and obtains a mortgage for the rest of the purchase process. However, because many borrowers cannot afford the 10-20% down payment, it is common to resort to other sources of financing. These may include government-guaranteed FHA, VA, or USDA loans. For all of these mortgage types, the foreclosure process is the same in Texas. 

 

Two Steps of the Purchase Money Loan Foreclosure Process

In Texas, if a lender is foreclosing on a home financed with a purchase money loan, there is a two-step process they must follow.

 

1. Notice of Default & Intent to Accelerate. The lender must first send the homeowner a letter notifying them that the loan is in default. This is the Notice of Default. An Intent to Accelerate accompanies this notice, which means that the lender intends to accelerate the balance and foreclose on the property.

 

  1. "Accelerate" means that the lender is calling the promissory note due.
  2. Once the Intent to Accelerate has been stated, the homeowner now owes the entire principal balance, plus any accrued interest and collection costs.
  3. The length of notice required is controlled by the loan documents. Most residential mortgages require 30 days' notice, but it could be as short as 20 days depending on your specific loan.

2. Notice of Trustee's Sale. In the second step of the foreclosure process, the lender must send an actual notice, called a Notice of Trustee's Sale. The lender must give at least 21 days of notice of the sale, which starts on the date the lender mails the notice, not the date of receipt.

 

  1. A lender may only foreclose on real property on the first Tuesday of the month. (Unless the first Tuesday falls on a federal holiday such as New Year's Day or Independence Day.)
  2. Many loan servicers wait until the loan is in default at least 60 or 90 days delinquent before starting the legal foreclosure process.
Rate and Term Refinance Loan

What is a rate and term refinance? 

Homeowners who opt for a rate and term refinance loan are essentially trading in their existing loan for one with better terms. Also known as a traditional refinance, a homeowner exchanges the current mortgage for a new one that provides lower monthly payments, reduced interest rate, or extends the repayment term without pulling out equity or cash.

 

Foreclosure Steps Required for a Rate and Term Refinance Foreclosure

Foreclosures on a home funded by a rate and term refinance follow the same two-step process noted in the purchase money loan foreclosure process:

 

1. Notice of Default & Intent to Accelerate. The lender must first send the homeowner a letter notifying them that the loan is in default. This is the Notice of Default. An Intent to Accelerate accompanies this notice, which means that the lender intends to accelerate the balance and foreclose on the property.

 

  1. "Accelerate" means that the lender is calling the promissory note due.
  2. Once the Intent to Accelerate has been stated, the homeowner now owes the entire principal balance, plus any accrued interest and collection costs.
  3. The length of notice required is controlled by the loan documents. Most residential mortgages require 30 days' notice, but it could be as short as 20 days depending on your specific loan.

2. Notice of Trustee's Sale. In the second step of the foreclosure process, the lender must send an actual notice, called a Notice of Trustee's Sale. The lender must give at least 21 days of notice of the sale, which starts on the date the lender mails the notice, not the date of receipt.

 

  1. A lender may only foreclose on real property on the first Tuesday of the month. (Unless the first Tuesday falls on a federal holiday such as New Year's Day or Independence Day.)
  2. Many loan servicers wait until the loan is in default at least 60 or 90 days delinquent before starting the legal foreclosure process.
Home Equity Loan

What is a home equity loan?

Homeowners in Texas may borrow up to 80% of the equity in their home by taking out a home equity loan or a home equity line of credit. While there are many restrictions on equity lending in Texas, these kinds of foreclosures do still happen. 

 

Foreclosure Steps Required for a Home Equity Loan Foreclosure

Foreclosures on a home funded by a home equity loan follow the same two-step process noted in the purchase money loan foreclosure process, with one additional step, which happens between the two steps of the purchase money loan foreclosure process.

 

  • After the lender sends the 30 day Notice of Default and Intent to Accelerate letter, the lender must also file an application for an order allowing the foreclosure in the state district court in the county where the property is located. 
  • The application must be served on the borrower, and the borrower has 38 days from the mailing of the application to file a response. 
  • If the borrower files a response to the application, the court has to set a hearing on the application. 
  • Once the application is granted, the lender still has to send the actual notice, so the process takes an absolute minimum of 89 days. 
  • The practical reality of this additional step is that the foreclosure process may take several more months than a house that is funded with a purchase money loan.

Foreclosure Relief Reviews

"Steven Schwinger took my call the first time I picked up the phone to call The Lane Law Firm. He was extremely courteous, clearly competent to handle the situation I found myself in, and immediately took the case, stopping the foreclosure the next day. The end result was that I was able to sell my house shortly after he stopped the process, which kept it off my credit report. I highly recommend this law firm.".

- Marie

"It can be scary to think that you need to reach out to an attorney… but it is even more scary to think that you could lose your home. From the attorneys to the paralegals to the office staff — this firm is knowledgeable, friendly, and easy to work with… they have formed relationships where we, as the consumer, cannot… and they walk you through it all."

- Cynthia

"When my husband died and I found that we were deeply in debt, I didn't know what to do. I wasn't able to pay my mortgage and had to go into foreclosure. Rarely have I found a lawyer with more compassion and expertise. It was such a blessing to turn all my problems over to Robert and have them resolved with such expediency. In this day and time it is fantastic to find such a professional group of people. If you have a problem, turn to Robert for resolution."

- Linda

"I was referred to The Lane Law Firm by a trusted associate to represent me in an attempt to short sale my home. I contacted Greg Tidmore at The Lane Law Firm and within 6 months, we closed on a short sale of the property that had been vacant for 5 years. I highly recommend them and my best advice to anyone out there with a similar situation is DO NOT TRY THIS ALONE! Give these guys a call — they will listen and tell you if they think they can help you. They definitely were able to help me."

- Josh

"Through my church I had a good friend of mine who had referred me to [The Lane Law Firm]. I called them up, came to meet with them, and from the moment I met them, I knew right away that this was the place I was supposed to be. They assured me that they will be able to aid me in some way or another and be honest about it."

- Michelle

"I would say if you're having a problem with a mortgage company, don't wait, contact The Lane Law Firm and let them handle your problem. They'll take care of the issues you might have. Whether it is foreclosure, tax problems with the mortgage company, whatever the case may be, and they'll successfully resolve the issue for you."

- Barry

Foreclosure FAQs

Below are answers to the most common questions we hear from clients about foreclosure. If there is a question you have that we didn't cover, give us a call at 877-408-3328.

How long does the foreclosure process take?
How many missed payments before foreclosure occurs?
How do I stop foreclosure?
What is a Notice of Default?
What is an Acceleration Notice or Notice of Acceleration?
What is a Notice of Intent to Foreclose?
What are notifications required in order to foreclosure in Texas?
What happens if I stop paying (default) on a home equity loan?
What is a HELOC?
What does judicial foreclosure mean?
What is a Rule 736 Expedited Foreclosure Application?
How long do I have to respond when my lender sues me for foreclosure?
Can I stop a foreclosure without a lawyer?
If I lose at my Rule 736 Hearing, does that mean I was foreclosed on?
What is a foreclosure notice form?
Are deficiency judgments permitted for home equity loans in Texas?
What is the Texas foreclosure eviction process?
Is there a right of redemption after foreclosure?

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Need Urgent Foreclosure Defense?

Don't lose your home to foreclosure. The attorneys at The Lane Law Firm are here to help you navigate your legal options, now. Schedule a free consultation to get foreclosure defense support right now, or leave us a message. We'll get back to you as soon as possible.

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