San Antonio Foreclosure Laws & Lawyers

Texas, the second largest state in the United States, claims that everything is bigger.  And a state that size has a foreclosure rate to accompany it.  Texas saw over 10,600 new foreclosure filings in March of 2009.  And in bigger cities like San Antonio, foreclosures are big news with about 4,500 total foreclosure homes ready to be auctioned.

San Antonio Foreclosure Laws

Foreclosure laws are not the same across the country.  They are usually governed by laws of the state, county, and sometimes even the city.  In San Antonio, foreclosure laws are governed by the State of Texas, and these regulations have been written in great favor toward mortgage lenders.  Subsequently, from the lender’s perspective, the foreclosure process is quick and easy in Texas. 

Here is a summary of San Antonio foreclosure laws:

San Antonio Foreclosure Timeline

Though some foreclosures are handled judiciously through the court system, most are non-judicial.  Non-judicial San Antonio foreclosures move rather quickly.  The homeowner/borrower is first given notice from the lender that they have defaulted on their loan.  After 20 days, if the defaulted amount is not paid, the lender then proceeds with notifying the borrower that the loan has accelerated and the full balance has become due.

The majority of newer Deeds of Trust have a Power of Sale clause that allows a lender to start the sale process immediately if default is not cured.  The Lender must file a Notice of Sale with the Bexar County Clerk and post an auction notice at the county courthouse.  No public newspaper notice is required in Texas.  After that, the secured home will be auctioned at least 21 days after the posting.  Foreclosure sales are held on the first Tuesday of the month at the county courthouse between 10 am and 4 pm.

Help for San Antonio Foreclosures

San Antonio homeowners must act promptly and quickly when first served with a notice of default.  The San Antonio foreclosure laws allow a lender to move expeditiously through the notice and final auction so it is important that a homeowner implements their strategy to stop foreclosure.  Help is available, and San Antonio homeowners can get a free consultation with a certified foreclosure lawyer to get the best advice on how 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 San Antonio to see your best options you have available to avoid Foreclosure.