Houston Foreclosure Defense Attorney

Losing a home or property to foreclosure is a stressful and frightening thought and more individuals and families are facing that problem every day. The severe recession brought on in part by mortgage industry fraud, Wall Street greed, and plummeting home values has made it difficult for many Americans to keep current with mortgage payments. If you are reading this, chances are you or someone you care about is already, or soon will be, facing a foreclosure problem. Texas is generally a pro-property owner state, that is, the laws are written to protect the homeowner from unscrupulous lenders, banks, and other creditors. Don’t give up! Take advantage of this and the “weak” position the mortgage companies are in!

The Padua Law Firm’s foreclosure defense attorney practice aggressively defends Texas home and property owners against foreclosure. Contact our offices to discuss your foreclosure defense with an experienced real estate attorney. Email a foreclosure attorney immediately or Call 713-840-1411. It is of UTMOST IMPORTANCE that you involve an attorney early in the process to maximize your defense position.

HOW WE CAN HELP YOU – Foreclosure Defense Strategies

A lender may or may NOT have the right to foreclose on a property. Without knowing the answer to this critical question, a property owner is at a big disadvantage in defending the foreclosure of his property. You have the right to know whether the party attempting to foreclose on your property actually has the right to do so. An attorney can help determine if any statutes or procedural requirements have been violated. The following is a list of some of the Defensive Strategies we can employ for property owners facing foreclosure:

STOP OR AVOID FORECLOSURE – The Texas Supreme Court, in order to protect the property rights of Texas property owners, demands strict compliance with the foreclosures rules mandated by the Texas Property Code from banks and other creditors who attempt to foreclose on properties. These rules include specific time frames and other requirements in relation to various steps and notices. Many of the lenders pursuing foreclosures today are national companies or Wall Street, NY based institutions that are not aware of the intricate details of Texas foreclosure laws. They frequently overlook details as they attempt to foreclose. If we can find a deficiency by the lenders/creditors that do not strictly adhere to the Texas foreclosure rules, the foreclosure process can be temporarily or permanently halted. This buys you the time necessary to find a more permanent, alternative solution. It is important to know that the lenders may have done everything correctly, and therefore other options need to be evaluated.

REVERSE/WRONGFUL FORECLOSURE – In a successful “Reverse Foreclosure” proceeding, a court declares a previous foreclosure by a bank or other lender invalid and thereby invalidates the foreclosure deed. Successful reverse foreclosures are a result of proving to the court that the lender violated the foreclosure rules mandated by the Texas Property Code. The end-result is that you own the property again, not the bank who previously foreclosed the property.

RECOVER FUNDS – In certain cases, after a lender forecloses on a property, they will sell it to the highest bidder. If the lenders sell the property for more than you owe them, they have to refund you the balance. However, in practice this rarely happens unless you force them to do so. A thorough review of the foreclosure documents, mortgage balances, foreclosure sale documents is necessary to determine whether a lender may owe you funds recovered from the foreclosed property sale. In some cases, this could be a substantial amount.

OTHER BENEFITS/OPTIONS – Assuming the lender has the right to foreclose on your property, there are other benefits and options available to you. An attorney can help supervise the entire foreclosure process to make sure that the lender performed all of its requirements in order to foreclose including: declaring you have defaulted according to your mortgage documents, properly accelerate the debt and give you notice of default, give you proper waiting period, appointment of a trustee, foreclosure sale, and many others.

  • Eliminate or Reduce Deficiency Payments – When the bank or lender sells the property for less than what you owe on the property, the lender usually has the right to seek a deficiency payment from you. This payment is calculated as the difference between what was owed and what the bank received from the foreclosure sale. This could be a significant amount of money. It is in the lenders’ economic interest for this “deficiency” to be as large as possible and it is in your best interest for it to be eliminated or reduced as much as possible. An attorney can help you argue the actual fair market value of the property to eliminate or reduce the potential deficiency payment due to lender.
  • Declare Bankruptcy – In certain cases when all the above mentioned foreclosure defense strategies have failed, one of the “last resort” options to avoid a foreclosures is to file for Chapter 7 or Chapter 13 bankruptcy. Bankruptcy can help a person keep their home or modify a loan to eliminate any past due amounts on a mortgage. Although we do NOT handle bankruptcies at Padua Law Firm, we can put you in contact with experienced bankruptcy attorneys in the area that can help you with this.

Padua Law Firm, PLLC Houston foreclosure defense attorney practice represents clients from Texas cities of Houston, Dallas, Austin, the Woodlands, Sugarland, Conroe, Dickinson, League City, Galveston, and Mexico.