Legal Question in Credit and Debt Law in Texas

Repossession/Forclosure

How many months can you be behind on an auto loan before they can reposses?

How many months can you be behind on a home loan before they can begin forclosure?


Asked on 10/11/04, 1:36 pm

1 Answer from Attorneys
Sharon Campbell Sharon K. Campbell

Re: Repossession/Forclosure

Technically, if you are one day late on your car payment, your car may be repossessed. Most finance companies don't move this fast, however. Same with foreclosure, except with foreclosure, the mortgage company must give you advance notice of their intent to foreclose. In Texas, there are two different notices which must be sent, one thirty day notice and one twenty day notice.

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Answered on 10/11/04, 8:12 pm


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