Legal Question in Real Estate Law in Texas

repossesion of home

one you have recieved a cetified letter, how long is it before a mortgage company can forclose on your home? if they say you owe 1100.00 by the30th and you have paid 600.00 by then can they still forclose on your home. how can bankrupcy stop a forclosure and approximately how much is a simple bankrupcy?


Asked on 2/19/03, 9:41 am

1 Answer from Attorneys
Lawrence Maun Lawrence J. Maun, P.C.

Re: repossesion of home

There are two types of certified letters you might receive. The first to notify you that unless you bring your payments current the note will be accelerated. The second would be a notice of acceleration and notice of foreclosure. The second letter would come approximately 21 days before the first Tues of the following month. Once the note has been acelerated the entire balance has to be paid. Bankruptcy filing can protect your home against foreclosure. The cost is dependent on the complexity of your case but can range from as low as $750.00 plus filing fees of about $200.00. some of the payment can be deferred. you may call at no charge to discuss. Larry Maun 713.266.2560

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Answered on 2/19/03, 10:29 am


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