Foreclosures in Texas

Foreclosures In Texas

Foreclosures in Texas offer a great opportunity for investors and home owners looking for bargains.

The Internet has evolved so that the average Joe can research available Texas foreclosures, but in the end you will need a Texas Real Estate agent that specializes in foreclosures to help you get the best deal.

You are in the right place! If your ready to get started right away, click on the banner to the right for a complete list of foreclosures.

Foreclosures in Texas happen daily, so once a week we create a
Texas foreclosures HOT LIST.

This is by no means an all inclusive list, so Contact Us for a more comprehensive list in the area of town that you are interested in.

Are you interested in knowing the Texas foreclosure process?

When a property is the security of a loan that is in default, the process of taking back the property to recover what is owed by a lender is called a foreclosure.

The foreclosure process begins when a lender files a Lis Pendens or Notice of Default because a borrower has defaulted on the mortgage payments.

There are 4 ways for the Texas foreclosure process to end.

1. State law provides a grace period known a pre-foreclosure. The loan can be reinstated during this time by paying off the amount in default.

2. The owner sells his/her property to a third party. This allows the owner to pay off the loan that was in pre-foreclosure.

3. At the end of the pre-foreclosure period the property will be put up for sale at a public auction.

4. The lender takes ownership of the property at anytime during the foreclosure process. Properties owned by the lender are called REO (Real Estate Owned) properties.

There are three chances for finding deals during the foreclosure process.

1. Pre-Foreclosure

After the Notice of Default has been filed you can approach the owner of the property and offer to buy their property at a discount. This allows the owner to save his/her credit and walk away with something. During this time you would want to research the title and inspect the property.

2. Public Auctions

Buying at an auction often requires paying in cash. In addition you do not know much about the condition of the property or had much time to research the title. Because of this you will find your best deals at this point of the foreclosure process.

3. Bank Real Estate Owned (REO)

When a property ends up on a bank’s books they will typically put the house on the market to recover their losses. During this time they will perform any maintenance on the house and clear the title. At this point of the foreclosure process you will not be getting the best deal, however it may still be better than other homes on the market.

If the property was backed by the Department of Housing and Urban Development (HUD) or the Department of Veterans Affairs (VA), then these bank foreclosures will become their responsibility. HUD and VA homes will typically be in need of repairs.

Even though the Texas Real Estate foreclosures market isn’t as bad as the rest of the nation, there are still plenty of foreclosures to be had in Texas.

If you are looking for Texas foreclosures in the Dallas Ft Worth area you will need a Real Estate Agent that specializes in foreclosures in Texas. Take a moment to fill out the following form and a Texas foreclosure specialist will contact you.

Home Buyer / Home Seller Form

Please note that all fields followed by an asterisk must be filled in.

First Name*
First Name*

Last Name*
Last Name*

E-mail Address*
E-mail Address*

Street Address*
Street Address*

Country*
Country*

Home Phone*
Home Phone*

Are you looking to buy or sell a home?

	A Buy
	B Sell

What town would you like to buy or sell a home in?

Price range of home you wish to sell or buy?

Number of Bedrooms of Home you want to sell or buy

Number of Bathrooms of Home you want to sell or buy

Does the home you want to sell or buy have a pool?

If you are buying a home, have you been pre-qualified by a lender?

Please enter the word that you see below.

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