During this time, you have the right to cure the default by paying the total amount owed, including past-due payments, fees, and costs. Early intervention and professional guidance significantly increase your chances of finding a favorable resolution.
Cure Default in Texas: Understanding the Foreclosure Reinstatement Period
Facing the possibility of foreclosure in Texas can be an overwhelming experience, filled with uncertainty and stress. Eviction and Post-Sale Procedures A common misconception is that the process ends once the auction occurs.
Reinstatement Period and Options Upon receiving the Notice of Default, Texas law provides a specific window of opportunity to stop the foreclosure. The auction follows a specific set of rules where the property is sold to the highest bidder.
Cure Default in Texas: Understanding the Foreclosure Reinstatement Period
This period is known as the reinstatement period, and it generally lasts until 20 days before the scheduled foreclosure sale. Your lender or loan servicer is required to provide a formal Notice of Default (NOD) after you are significantly behind, typically around 120 days.
More About Foreclosure process in texas
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