Real Estate Foreclosures

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The Law about Real Estate Foreclosures

The failure to make your payments results in the foreclosure of the mortgage.
Foreclosure allows the mortgagee (Bank) to declare the entire mortgage debt
due. Therefore, it must be paid immediately and in full. This is called an
acceleration and occurs through the acceleration clause in the mortgage.

The end result is that the failure to pay the mortgage debt, once foreclosure,
leads to seizure of the security interest and it's sale to pay for any remaining
mortgage debt.

In almost every situation, the foreclosure process depends on Texas law and
the terms of the mortgage. In Texas we typically have Deeds of Trusts,
mortgages with a power of sale to foreclose, Which facilitate the foreclosure
sale.

Property owners have limited rights

If a foreclosure sale is imminent, and you have some ability to cure your debt,
you need immediate legal assistance. Attorneys, epically real estate attorneys,
have experience negotiating with creditors and know the procedural steps to
protect you.

What is a Deed of Trust?

General Discussion of Mortgage Law.

The Law Office of Albert W. Van Cleave, III PLLC.
1520 W. Hildebrand Ave.
San Antonio, TX 78201
e-mail
Phone (210) 341-6588
Fax (210) 341-6589