Legal Question in Real Estate Law in Texas
Loss Mitigation
Were there anything laws/statues requiring a lender to offer loss mitigation vs. foreclosure prior to this new legislation?
Asked on 1/07/08, 12:57 pm
1 Answer from Attorneys
Cheryl Rivera Smith
The Smith Law Firm
Re: Loss Mitigation
No. All rights and obligations were spelled out in your deed of trust and in the foreclosure laws. Once the loan was accellerated, you had the right to pay it off prior to foreclosure day. There was and is also a redemption period for tax lien foreclosures.
Answered on 1/07/08, 6:53 pm
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
