Behind on Your Mortgage in Texas? Your Pre-Foreclosure Options, Calmly

Falling behind happens to good people: job changes, illness, divorce, a surprise that eats the savings. You have more options early than late, so the best move today is to open the mail and write down every date in it.

Most Texas mortgages use a deed of trust that allows non-judicial foreclosure, meaning no lawsuit is needed:

1. Notice of default: at least 20 days to cure the missed payments.
2. Notice of sale: posted and mailed at least 21 days before the sale.
3. Foreclosure sale: held on the first Tuesday of the month, between 10 a.m. and 4 p.m., at a place the county designates.

Start to finish, it can be as short as a couple of months. That's why acting early matters.

• Reinstatement: pay what's past due, plus fees, to bring the loan current.
• Repayment plan or forbearance: spread the missed amount over time, or pause payments briefly.
• Loan modification: change the loan terms so the payment fits.
• Sell the home: if you have equity, selling before the sale lets you keep it. This is where a pre-foreclosure listing on Boraak can help: only your area is public, and you choose who sees the address.
• Short sale: if you owe more than it's worth, the lender may agree to accept less.
• Deed in lieu: hand the home back to the lender by agreement.

Ask your servicer, in writing, which of these they offer.

Red flags:

• Anyone who wants an upfront fee to "stop" foreclosure
• Pressure to sign over your deed or make payments to them instead of your lender
• Promises that sound too good ("Guaranteed! Keep your home and cash out!")

A HUD-approved housing counselor is free or low-cost. Find one through HUD's website or by calling (800) 569-4287.

Our pre-foreclosure listings keep your street address private. Buyers see the area, your asking price, your honest value estimate and what the bank needs to be paid, so serious buyers can tell quickly whether a deal works. Buyers can send bids, which only you see.