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Foreclosure Defense

Foreclosure Doesn’t Have to Happen to You

By June 1, 2022No Comments

If you are facing foreclosure on your home, or you are behind on mortgage payments and may be facing the start of the foreclosure process soon, there is hope. Vilt Law, P.C., in Houston, TX can help you keep your Texas home and get out of foreclosure. There are programs available if you know who to ask and where to go for help.

Vilt Law Does Home Mortgage Remodifications

A home mortgage remodification program helps restructure the mortgage you have and resets the terms so that you can incorporate the late payments you currently have back into the loan and extend the life of the loan to make payments easier. When you consider the fact that Texas has no redemption period after a home has gone through a bank foreclosure process, your only strike is a pre-emptive one.

Vilt Law can help you restore your mortgage and monthly payments and help you keep your home before the foreclosure process has reached that point of no return. The remodification of your home loan is the first step toward a quick and early recovery of your home.

If your home is foreclosed upon through an HOA, is a condo under HOA ruling, or is foreclosed upon because of failure to pay property taxes, you can still redeem the property. Legal measures in place allow homeowners to pay the back property taxes or make arrangements with an HOA to keep the home. However, you will need expert legal help to navigate these waters.

Wrongful Foreclosures Are the Only Ones That Can Be Stopped Completely

There is a due process required for proper foreclosure proceedings under Texas law. If any part of these proceedings is not done correctly, the foreclosure on a home is considered “wrongful” and therefore illegal and non-binding. The only way to find out if your foreclosure is considered wrongful is to allow Vilt Law to examine your case and see if something was not done correctly. If a flaw or fault exists, you can sue, overturn the foreclosure process, and regain your home. This is the only way a foreclosure is completely overturned in this state and why it’s so important to hire Vilt Law for your legal needs.

Only 1.1% of Foreclosures in Texas Are Completed

It is surprising to hear that only 1.1% of all foreclosures in Texas are ever completed, but that does give you some hope. It means that it is very possible that your home and your situation will not be part of that statistic. Since Clay Vilt has successfully helped many families keep their homes and move out of foreclosure, you have an even higher and better chance of keeping your home when you hire Vilt Law.

Other Measures Vilt Law Recommends to Stay Out of Foreclosure

The best way to keep your home is to stay out of foreclosure in the first place. However, that is trickier to do, especially with the inflation and hard economic times in the last couple of years. Some things that Vilt Law recommends to clients who are not quite in the foreclosure process yet but have missed a couple of mortgage payments include the following.

  • Talk to your lender to see what help might be available. Lenders do not want the property; they just want the money. They may be willing to work something out with you.
  • If the problem is that your payments are too high, but you could otherwise afford a home, find a way to refinance to get a lower payment and/or less interest.
  • Consider getting a HUD financial counselor involved. HUD helps many homeowners restructure their mortgages and manage their payments so that foreclosure is off the table.
  • Sell the house. Sometimes selling the house provides you with enough money to buy something more affordable, and it doesn’t ruin your credit as a foreclosure would. With property values soaring right now, it might even be in your best interests to sell.

If you are uncertain or you feel like you need major legal counsel, Vilt Law is ready to assist you. If you hire Clay Vilt, he can assess your situation and recommend the best course of action to keep your home out of foreclosure. Sound advice is just one of the many services Clay Vilt offers for his clients.

Repair Your Credit Even If You Can’t Save Your Home

Sometimes, there just isn’t a way to save your home. Vilt Law can still help you. If we can’t help you save your home, we can help you improve your credit ratings and scores so that you will recover from this loss quicker and be able to buy a new and more affordable home in the not-too-distant future. There are multiple ways Vilt Law can legally boost your credit and get you out of a rut that normally prevents people from investing in real estate again so soon out of foreclosure.

Clay Vilt Has Helped Hundreds of Families Like Yours

Clay Vilt has been licensed in foreclosure and bankruptcy law for almost 30 years. His experience and expertise have made it possible to help hundreds of Texans save their homes from foreclosure and remain living in their homes. Regardless of the type of foreclosure you are currently facing or the financial hardships you have that prevent you from making monthly mortgage payments, Clay Vilt can help you and provide you with sound advice and legal services as necessary.

Call Vilt Law today for a free 60-minute consultation to see how Clay Vilt can help you! If you live in the Houston area, you may also request an in-person appointment for a consultation with our expert team.