Foreclosure Lawyers

If you are a homeowner that has fallen behind on your monthly mortgage payments, it is normal to feel anxious and overwhelmed by the future. The risk of foreclosure can seem imminent, and you may feel lost and have little direction.

Our team of foreclosure attorneys in Houston is available to help. Here’s what you should know about foreclosures and the laws surrounding them that can keep you in your home.

We Specialize In

Loan Modifications

A loan modification is the process where the terms of your current mortgage are modified outside of its original terms. A modification may include adding the delinquent balance to your current balance, lowering your interest rate to as low as 2%, decreasing your monthly payment, and/or reducing your balance.

Repayment Plans

A repayment plan is an agreement with your loan provider to spread your delinquent payment amount over a specific period. Payments typically are negotiated between 6 and twelve months and are devised to help the homeowner return to a current status.

Forbearance Plans

A forbearance plan is an agreement to reduce or suspend mortgage payments for a specific period. Most homeowners choose this option to suspend all payments during this time, but in exchange, the borrower must pay the full past-due payments at the end of the forbearance period.

All past-due amounts include the additional payments needed to cure all missed payments, including principal, interest, taxes, and insurance. A forbearance agreement's specific terms will vary from lender to lender; however, our attorneys help negotiate and navigate agreements with you.

Rescinding

Rescinding is the legal process where the lender returns the property after a wrongful foreclosure.

Rent-to-Own

If your property has foreclosed and you are facing eviction, we may negotiate a new rental agreement with your mortgage lender and the option to repurchase the home after 12 to 24 months of on-time payments.

Reverse Mortgage

A reverse mortgage is a mortgage loan that allows the borrower to access the property's value, between 30% to 40%. Typically offered to elders 64 years and older, a reverse mortgage borrower does not pay in monthly installments; instead, the loan repayment becomes due upon the borrower's death at 100% of the current value.

Foreclosures usually occur on a reverse mortgage once the original borrower has deceased or by default on taxes and/or insurance. If you or someone you know is facing foreclosure based on an acceleration of a reverse mortgage, working with a lawyer can help you understand your rights.

If you or someone you know agreed to a reverse mortgage without fully understanding your rights, please contact our legal team before your heirship is forfeited.

Foreclosure Basics and FAQs

What is foreclosure?

A foreclosure is a legal process a mortgage lender utilizes to repossess a home or land after the mortgagee fails to make their monthly payments.
How long do foreclosures take?

No one foreclosure is the same, but typically a mortgage lender may begin the foreclosure process upon a 90 days delinquency. But if the homeowner has a solid defense and strong legal team, the legal team can negotiate other options and slow down the foreclosure process.
Are there any alternatives to foreclosure?

Yes, most lenders prefer not to foreclosure and would instead suggest other qualifying options. Certain alternatives may allow you to stay in your home via a loan modification, repayment plan, forbearance, or refinance your mortgage and the loan amount.
What is a deficiency judgement?

A deficiency judgment refers to the borrower's liability for the home loan's unpaid balance, even after the home's repossession back to the mortgage lender. This represents the worst-case scenario for homeowners as this means a homeowner might still owe money after the house is taken from them and resold. This is why working with a foreclosure attorney is for your benefit; our attorneys can negotiate a settlement without the risk of a deficiency judgment.

It is critical to work with an experienced Houston foreclosure lawyer as soon as you believe you need assistance working with your mortgage lender. Our experienced attorneys are prepared to assist struggling homeowners by devising a plan to keep your home and develop alternatives to the foreclosure process.