Are you facing foreclosure?

Here’s what you need to know.

Phones for Bankruptcy and Debtors’ Rights matters:

     San Antonio 210-643-5889

     Houston 281-809-7557

     Toll free 1-888-360-6162

FAX:  210-738-3195


             Texas foreclosure is like no other state’s.  By law, real estate foreclosure auctions can occur only on the first Tuesday of a calendar month.  The law requires that notice of a foreclosure sale be posted in a designated area at the courthouse, and sent to the owner/borrower’s last known address, at least three weeks before the sale.  The sale itself must be conducted between 10:00 a.m. and 4:00 p.m.

             What these calendaring requirements add up to is that if you are going to stop a foreclosure sale, you must complete your preventive action before 10:00 a.m. on the Tuesday morning when the sale is scheduled.

             Some lenders have loan modification programs that may let you pay out your arrearage over time, some may permit you to sell your property for less than the loan balance and some may even renegotiate the principal amount of your loan.  If you have already received a foreclosure notice, it is probably too late to expect any of these alternatives to bring relief.  Still, there is no harm in asking your lender to back off on the foreclosure sale to allow time to try for one of these solutions.  A bankruptcy filing, however, is generally the only way you can force your mortgage lender to back off.

              If the action you decide to take is to file a bankruptcy petition, you must meet the debtor education requirements of the Bankruptcy Code, and your lawyer must have the necessary information to prepare your package, before the filing can take place.  This is why at Graves Law Firm we try to give our clients a reason to act sooner rather than later:  In Chapter 13 cases filed to stop foreclosure, we require NO DOWN PAYMENT ON ATTORNEY FEES if you meet with us and pay your court filing fee not less than SEVEN DAYS before your foreclosure sale is scheduled.

             The debtor education requirement is a course you can take online or over the phone.  It takes approximately 45 minutes, and at the end of the course the training provider will FAX your certificate to us for inclusion in your filing package.

To contact us about Bankruptcy and Debt:

Attorney Steve Graves discusses Temporary Restraining Orders

Attorney Monica Urrabazo Discusses Stopping Foreclosure