Why Fight Foreclosure in Texas?

Reasons for Fighting Foreclosure in Texas

For those who have already received a foreclosure notice from the lender, this notice probably did not come as a surprise. You may have pushed the thought out of your mind, but ultimately you knew this day might come if something didn’t change in a major way. You have certainly already dealt with difficult financial situations as you have continued struggling with your monthly mortgage payments over a period of months and in some cases even longer, as you have tried to work out modifications, etc. You may now simply feel resigned that you will lose your house. Yet, you don’t have to give up and let foreclosure happen. The bank legally holds the financial and legal right to foreclose on your home following mortgage default. But you have rights against foreclosure as well, and through chapter 13 bankruptcy you could even be able to catch the mortgage up over a 5 year period. As you consider your options, and consult with experienced attorneys and team members at the Bright Law Firm, you’ll find that you can almost always arrive at a better outcome by becoming proactive than what you would achieve by doing nothing.

Just as quickly as you hire a DFW foreclosure defense lawyer of the Bright Law Firm founded by Richard Weaver, you’ll have a powerful advocate in your corner to represent you in protecting your rights, fighting the bank if necessary, an immediately helping you to conduct a careful financial investigation regarding your situation so that you can find out if you can stop the foreclosure. Some situations lead to the conclusion that you are a victim of mortgage fraud, mortgage misconduct, or predatory lending by the lender.

Most negative attention regarding foreclosure typically focuses with the borrower being delinquent on monthly payments, yet in truth lenders are frequently to blame with causing foreclosure needlessly among borrowers.

Determining If You Should Keep the Home Or If You Are Ready to Move On/Forward

Suing a bank and going to court are not the only legal strategies to use when fighting a bank’s foreclosure efforts. Some situations involve negotiations with the bank. Sometimes a loan modification is possible, but more commonly, the most powerful defense against foreclosure involves a bankruptcy, and most commonly it will be a chapter 13 bankruptcy. This provides you as the borrower time to catch up the payment. Modifications offer lower payment through the reduction of principal and interest, yet these are difficult to obtain. Other situations extend the number of months on the loan’s terms. In some cases, seeking to negotiate with the bank regarding a deed in lieu would allow you the opportunity of getting the home out of your name while undergoing the least amount of financial and legal liability regarding the home. It also minimizes the dent in your finances if you can stop paying the mortgage sooner. Chapter 7 bankruptcy also presents a valid option for making a strategic default on the mortage.

Contact Bright Law Firm Today: (214) 617-2500

If you are looking to hire an attorney to stop, present, or minimize the negative effects of foreclosure in DFW, you should call the Bright Law Firm today at (214) 716-2500. If your goal revolves about saving your property, or if you seek to move on, our team wants to assist you in any way possible to help you achieve the best possible outcome. Contact a DFW foreclosure defense lawyer today to assist your situation and foreclosure troubles!

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