Texas is the biggest state in the contiguous United States and also has one of the largest foreclosure rates. As of April of 2009 there were over 10,000 new foreclosure listings bringing total Texas foreclosure numbers to over 67,000. Dallas foreclosures are the second highest in the state just behind Houston. And if trends are any indication, more foreclosures in Dallas will be felt if homeowners do not act to prevent it.
Dallas Foreclosure Laws
Dallas foreclosure laws are much the same as all other cities in Texas since foreclosure laws are set by the state. However, the Dallas foreclosure laws are highly in favor of lenders and offer a swift process from the point of filing a foreclosure notice until the actual auction and sale.
Here are some basic foreclosure laws all Dallas homeowners should be aware of:
| Judicial |
Yes |
|
| Non Judicial |
Yes |
|
| Primary Security |
Deed of Trust, Mortgage |
|
| Timeline |
60 Days |
|
| Redemption |
No |
|
| Notice |
Publication |
|
| Deficiency Judgment |
Yes |
|
How Foreclosure Lawyers Can Help
Homeowners who are facing foreclosure in Dallas can get help from a certified foreclosure lawyer. Foreclosure lawyers specialize in the foreclosure process and laws that dictate foreclosures in Dallas. Usually homeowners can set up a free consultation with a qualified foreclosure lawyer to get advice on what to do next.
A certified foreclosure lawyer will be able to gather all pertinent information about a homeowner’s status with his or her lender, and analyze what strategy should be set in motion to help stop the foreclosure process. The Dallas foreclosure process is swift and strict and offers no room to violate rules.
In many cases a foreclosure lawyer will be able to communicate with the homeowner’s lender to negotiate a modification of the loan, or even obtain a temporary forbearance of mortgage payments. The main thing that homeowners should remember is that in Dallas, foreclosure can be prevented if they are proactive and provide open communication with a foreclosure lawyer and the lender.
Finding a Dallas Foreclosure Lawyer
The statistics show that Dallas foreclosures continue to rise through the first quarter of 2009 and will probably continue that trend for a while. Dallas foreclosure lawyers are available for a free consultation. Homeowners who face losing their home should act quickly to speak with a qualified attorney and begin a strategy to avoid and stop foreclosure of their home.
- If you may be facing foreclosure or already in the process, Consult Your Case for Free with a local certified Foreclosure Attorney in Dallas to see your best options you have available to avoid Foreclosure.