HOA Foreclosure Lawyer – Fort Worth, TX
If you’ve fallen behind on your mortgage payments and/or homeowners’ association fees and you’re risking foreclosure, connect with the reputable Fort Worth, TX HOA foreclosure lawyer team at Leinart Law Firm for personalized legal guidance. Many homeowners aren’t even aware that they can risk foreclosure if they fail to pay homeowners’ association fees. If you’ve been caught off-guard and you want to save your home and homeownership, we’ll do our utmost to aggressively protect your rights.
HOA Foreclosure Lawyer – Fort Worth, TX
Many homeowners who face foreclosure as a result of HOA challenges live in planned communities that are governed in-part by covenants. Homeowners in these communities are required to submit fees and assessments to their governing homeowners’ association. Depending upon the nuances of a homeowner’s situation, their HOA may be empowered to secure a lien on their property if/when the homeowner fails to pay their required fees and assessments.
In the event of nonpayment, an HOA-secured lien will attach to the real property in question. Once a lien attaches, the HOA may be empowered to foreclose the property, just as a mortgage lender would be empowered to foreclose in the event of nonpayment of mortgage obligations. It is rare that an HOA would take such dramatic steps in the event of one or two periods of nonpayment. However, if fees and assessments are extensively delinquent, taking this action is not out of the question.
When Should You Contact a Foreclosure Lawyer?
Generally speaking, it’s a good idea to connect with a skilled Fort Worth HOA foreclosure lawyer as soon as you realize that you’re at risk of not making a second mortgage payment on time. The vast majority of lenders will accept a single late payment but once a second payment period passes without communication from a borrower, lenders get antsy and start exploring opportunities for legal and financial recourse.
You can connect with our firm at any time during the foreclosure process. But, it’s best to contact us as early in this process as you possibly can. In doing so, we’ll be in a superior position to protect your rights and preserve your legal options. If you wait to connect with us until your home is already slated for auction – for example – we may be able to help you keep your home but our ability to assist you will be more limited than it would be if you had contacted us earlier in the foreclosure process.
Legal Assistance Is Available
The foreclosure process is both a stressful and high-stakes reality. Please understand that you don’t have to navigate it alone. The experienced legal team at Leinart Law Firm is available to assist you right away. Regardless of the particulars of your financial situation, opportunities to save your home may be available to you. Call today so that our compassionate Fort Worth HOA foreclosure lawyer team and your family can explore these opportunities together. We look forward to speaking with you.
As your Fort Worth, TX HOA foreclosure lawyer from Leinart Law Firm can review with you, in the state of Texas, there has to be 20 days between when the HOA sends you a notice and the next phase of the process. If you reside in Texas, this means a homeowner association can attach a property lien and file it with the state. In many cases, an HOA foreclosure is like a mortgage foreclosure, and a property can be sold at auction within a couple months if payments have not been caught up.
Before a foreclosure can officially happen, you will need to have received two different types of notices. The first is the “Notice of Default and Intent to Accelerate”, and once you receive this notice, you will have exactly 21 days to pay the amount owed before receiving the second notice. What the second notice will state is the location of the sale and a three-hour period in which the sale will occur. This notice is called the “Notice of Acceleration and Posting for Foreclosure”. This notice will also be submitted to the county clerk and posted at the courthouse.
The time the auction will happen will depend on when you receive the second notice. At the next monthly foreclosure auction the home will be set for sale, which is usually the first Tuesday of every month. So essentially, either the second notice will give you another month to get ready, or the auction may only be a few days away. For this reason, it is imperative that you act swiftly and get help from a legal team who can come to your aid in the situation. We know how to defend your rights as a homeowner. Even if it seems like hope is lost, don’t give up. But the sooner you contact a Fort Worth foreclosure lawyer, the better.
In the state of Texas, the HOA or lender does not have to go to court to foreclose on home. This is considered a non-judicial foreclosure, and means that a home foreclosure can occur without a court order if the mortgage paperwork contains a clause for power of sale. You may only have a very short period of time to assert your rights as a homeowner, or you are at risk of losing your home. It is important to use your initial 20 days by trying to find a resolution with your HOA. Perhaps you can reach an agreement on paying your debts back or commit to a repayment plan. But once that 20-day period is over, the HOA can continue the property foreclosure process if no resolution has been reached.
We know that a home foreclosure can be a terrifying thing to think about. After all, as a homeowner, you probably purchased your home because you want to have a place that you can call your own,and take care of yourself and your family. We hope that if you are struggling with an HOA foreclosure or other related issue, that you reach out to us immediately so we intervene and assist you. A Fort Worth foreclosure lawyer at Leinart Law Firm is ready to take your call.