Legal Question in Real Estate Law in Texas

Home in Foreclosure

My home is currently in Foreclosure and I enlisted the assistance of a company that was to help by getting the bank to modify our loan. They successfully postponed the first foreclosure date but we have another date that is quickly approaching (02/06/09) and there appears to be little headway being made. The bank will not talk to the company and they (the bank) are telling us that the only way to save our home is to do a short sale, or pay the total accumulated amount due. (over 13K) Is there anything else that I can do to save my home?


Asked on 1/29/09, 9:44 pm

2 Answers from Attorneys
Cheryl Rivera Smith The Smith Law Firm

Re: Home in Foreclosure

Check with your bank and see if they will allow you to enter into a forebearance agreement.

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Answered on 1/30/09, 1:02 pm

Re: Home in Foreclosure

You have a few options. You can try to negotiate with the bank to see if they will modify the loan. You can list your house for sale and sell it. Or, you can see if the bank will accept a deed in lieu of foreclosure. The key is to keep the lines of communication open. As a last result, you can file for bankruptcy protection.

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Answered on 1/30/09, 5:22 pm


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