Legal Question in Real Estate Law in Texas

My father lost his six figure income job in December last year. My parents have completely ran out of money and my father doesn't even qualify for unemployment because he was working contract work. They own a small home they were renting out, and they are faced with forclosure on the home they currently live in. The idea at this time is for them to let go of the house they have a mortgage on since they cannot afford it any longer and move into the home they own. They will also have to let their car go back and stop paying on a bank loan and some credit cards as well since they simply do not have the means to pay. I want to know, can any of the creditors come after the home they do own if anyone gets a judgement? they have no options at this point other then to stop paying the creditors. My father is 61 years old and the chances are slim to none that he will find a good job any time soon or any time for that matter. Thanks

Asked on 9/23/09, 4:24 pm

Mark Dunn Mark D. Dunn

0 users found helpful

0 attorneys agreed

When they move into the "rent house" they own, it becomes homestead. A judgment lien in Texas does not attach to homestead.

Homestead, and homestead protection, exists without anyone filing a formal declaration or recording anything at the county clerk's office.

Answered on 9/29/09, 7:01 pm

Keywords

Match Any Match All

Country

State

Area of Law