Before the foreclosure crisis, laws favored foreclosing lenders. Now, federal and state laws heavily regulate loan servicing and foreclosure processes, offering protections to borrowers, including loss mitigation opportunities and strict compliance requirements.
In Texas, borrowers typically sign a promissory note and a deed of trust, which provide contractual rights.
Don't get caught off guard if you're a Texas homeowner behind on mortgage payments. Learn about foreclosure laws and each step in a Texas foreclosure process.