Legal Question in Real Estate Law in Texas

Real Estate Foreclosure Process

If a commercial real estate loan is originated by a bank and that bank then sells the note to a non-bank or investment group is the new creditor, the non-bank, still subject to the same foreclosure rules as the bank. For example can the investment group demand and acellerate the note and then notify the borrower that instead of a foreclosure sale they intend to repossess the property. Since there was no sale there is no deficiency and the borrower is provided a release from the debt, is that allowed by law?


Asked on 7/04/09, 1:44 pm

1 Answer from Attorneys
Cheryl Rivera Smith The Smith Law Firm

Re: Real Estate Foreclosure Process

They have to abide by the terms of the Deed of Trust. You should contact an attorney.

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Answered on 7/05/09, 10:00 am


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