Home Buying in San Antonio>Question Details

Jaytee, Home Owner in San Antonio, TX

how many months must i be behind before they can foreclosure on my home in tx?

Asked by Jaytee, San Antonio, TX Mon Jul 2, 2012

I am currently 2 months behind due to my wife being hospitalized and me losing my job.

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All lenders maybe different but I believe mine told me you can only be 2 months behind and once you to get to more then that it gets serious. Hope things get better and you don't lose it. There are lots of programs to help you and mortgage company will give you info on them.
0 votes Thank Flag Link Sat Oct 12, 2013
I believe 90 days but I have heard 1 year. I would call the bank and ask.
0 votes Thank Flag Link Thu Jul 12, 2012
Call your bank and explain to them and sometimes they can help depending on your bank. But usually three months behind they will start foreclosure.
0 votes Thank Flag Link Thu Jul 12, 2012
Jaytee it will depend on your bank, somebanks are faster at foreclosure than others. the key for you is to contact your bank, ask for the home retention department, if you have any ability to make monthly payments but nbot catch up, you should be able to be kept in your house through a variety of programs, if you have no ability to make monthly payments your options are smaller and should be asking to sell your home through a short sale, or negotiating a deed in lieu to get you some relocation money and forgiveness of debt. Hoem retention are not collectors and should outline your options.
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Sun Jul 8, 2012
I believe it is as little as 90 days but that rarely if ever happens.

Here is what you need to do because of your hardship. Because I have listed so many short sales I know how to speak with lenders and what they ultimately want.

Please do the following so you can stay in your home as long as possible and ultimately maybe even buy you some time to do a loan modification if you are able to get another job. I have known many people who have been able to do this.

Step 1: Stay in constant contact with your lender. Tell them what happened and that you would like to see if you qualify for a loan modification. This process can take many months and during that process if you are able to find a new job you may just be able to secure a new job and keep your home.

Step 2: Remain in constant contact with the lender. They will keep asking you for things like W2's, tax returns, bank statements etc. Every week I want you to contact them if they have not contacted you. Do this every week. Keep the communication open as this is critical to you keeping your home.

Step 3: If you are unable to find a job and successfully complete the loan modification it may be time to sell your home. If you do not have equity it may be a short sale. This process also takes time and can drag on for months. This is good as you can continue to live in your home.

Step 4: They will eventually tell you to list your home with a Realtor. Find one who is experienced in dealing with banks and people in your situation. The good news is you will probably qualify for relocation assistance of anywhere between $2500-3500. In some cases my clients have received buyouts of over $15,000. Chase has a program where they will pay a homeowner up to $40,000 to short sale their home. It all depends on your loan and the equity in the property so you should at least qualify for the $2500-3500 relocation monies.

Step 5: Keep in constant communication and make sure your agent is as well. This process can really drag on and again, the longer it can take the better for you especially if you have not sourced a new job.

I am so sorry to hear about your situation but I hope my answer helps you stay in your home for a long time to come.

Best of luck to you.

Don Groff
REALTOR® | Mortgage Broker
Keller Williams Realty | 360 Lending Group
o 512.669.5599 m 512.633.4157
listings@dongroff.com | http://www.AustinListed.com
0 votes Thank Flag Link Sat Jul 7, 2012
Best thing is to review your note. You got a copy of it from title when you closed on the home. It's all spelled out there.

First thing I would do is call your lender, and see if they can put those payments to the back of the loan.... Work with them now, and you may not need to sell or worry about a foreclosure.

Communication with your lender is the key.

0 votes Thank Flag Link Fri Jul 6, 2012
Please call Mr. Prince 210-957-1883 TODAY, for answers to all your questions. Your situation is Exactly his specialty. If you get his recording; contact me, and I can email you some Loan Modification info to read Before Mr .Prince returns your call.

Norma Tilleman
Realty Executives - Select Properties
Cell: 210-452-6480
0 votes Thank Flag Link Wed Jul 4, 2012
51 days from the first missed payment is how fast they CAN foreclose on you in Texas. People in New York have it much better as their average time before being foreclosed is about 2 years, I believe. Sounds like you may qualify for a short sale and still be able to save your credit. Call me at 210-367-4757 ASAP to discuss.

Justin Werner, ABR, CDPE, CRS, SFR
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Platinum Top 50 Realtor Finalist 2011
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210-367-4757 Cell

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Do you know anyone falling behind on their mortgage payments? As a CDPE I can help.
0 votes Thank Flag Link Mon Jul 2, 2012
It depends on what Bank and what type of loan, I have seen 6 months up to a year, but you should see an attorney at law,
0 votes Thank Flag Link Mon Jul 2, 2012
You wil want to look back at your documents to check. It is outlined in your mortgage agreement and deed of trust. There are some notice times that need to be followed. I believe they need to give you about 40 days before foreclosure and probably 10 days after that or so if they have to evict.

What I normally see is about a year, but sometimes it happens faster.

CALL the mortgage company NOW. Don't wait. You need to get a game plan together. The faster you act and act in a positive way the better it typically is for you. Don't wait for them to react.

I'm sorry to hear about your circumstances, but perhaps there are some things you can do.
Can you rent your house and move to a cheaper place?
Can you rent a bedroom or two for extra income?
Can you sell your home to a relative?
Can you sell your home and rent someplace cheaper?
How fast can you get back to work?
Is your wife able to work yet?

You need to be in emergency mode figuring out how you can catch up or liquidate the home and asking the mortgage company also for advise or alternatives.
0 votes Thank Flag Link Mon Jul 2, 2012
Bruce Lynn, Real Estate Pro in Coppell, TX
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