Behind on payments. Options, in order.
Being behind is not the same as losing the house, and most people who act early don't lose it. The order matters more than the urgency, because the cheapest options close off first.
Read this first
Selling should be near the bottom of your list, not the top. Reinstating, a repayment plan, forbearance, or a loan modification from your servicer are all better outcomes than selling — and if you do sell, the open market usually beats selling to a buyer like us. We'd rather you know the whole map than only the part we're in.
- 01
Call the servicer, even though you don't want to
Loss mitigation exists because foreclosure is expensive for lenders too. Forbearance, a repayment plan, or a modification are all standard products. A completed loss-mitigation application can also pause the process while it's under review. Silence is the one thing that never helps.
- 02
The dates are fixed and shorter than they look
Federal servicing rules generally keep the first foreclosure filing until you're more than 120 days past due. After that, Texas moves quickly — notice of default with at least 20 days to cure, then notice of sale at least 21 days out, then the first Tuesday of the month.
- 03
The last real window is about three weeks
Once the trustee's sale is scheduled, three weeks isn't enough for a conventional listing with a financed buyer. It is enough for a cash close. That's the narrow slot where a buyer like us is the practical option rather than the expensive one.
- 04
After the sale, Texas gives you nothing back
There's no general right of redemption after a mortgage foreclosure — unlike a tax sale, there's no buy-it-back period. Any equity above what was owed is usually gone. That asymmetry is the whole argument for acting early.
A HUD-approved housing counsellor, free
They negotiate with servicers every day, they're not selling anything, and it costs nothing. Find one through the Consumer Financial Protection Bureau or HUD directly. If a sale is already scheduled, talk to a lawyer.
Be careful who you talk to
Anyone charging an up-front fee to "stop your foreclosure", asking you to sign the deed over, or telling you to stop talking to your lender is a problem. None of that is how any of this legitimately works.
Where we're genuinely useful: the clock has run down past what a listing can handle, and a cash close beats a foreclosure on your credit and your equity. Not before then.
Or call (832) 307-1738. No obligation either way.
Then list it — and I’d rather help you do that than talk you out of it.
For plenty of houses a prepared sale on the open market nets more, and the calculator above says so in dollars. If that’s your house, selling to me would cost you money — so let’s not do that. I’m also a licensed Texas broker, and listing is the other half of what I actually do.
No obligation and no catch: if you list, I don’t buy the house. That trade is fine by me — a seller who nets more is a better outcome than a seller who felt cornered.
Both open on alanhernandezhouston.com — my brokerage side.
I’m a licensed Texas real estate broker, and I’d be buying for my own account rather than representing you as an agent.
Alan Hernandez, Licensed Texas Real Estate Broker. This page is general information about the situation described, not legal, tax, or financial advice about yours. Timelines and obligations vary with your documents and circumstances. Verify anything you intend to rely on with an attorney, a CPA, or a HUD-approved counsellor.