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Judicial means that there must be a hearing held to get approval from a Judge to foreclose. These foreclosures are often called "Expedited Foreclosures". Texas law requires that all home equity, reverse mortgage, homeowner association and tax lien loans are now considered Expedited Foreclosures.
In Texas, there are three ways in which a lienholder can foreclose on a property:Judicial Foreclosure. A judicial foreclosure requires the lienholder to file a civil lawsuit against the homeowner.Non-Judicial Foreclosure.Expedited Foreclosure.
If you have not yet arranged to pay your amount due within the time specified, your lender may send you a Notice of Sale. Texas foreclosure laws require that you have at least 21 days' notice in writing, beginning on the day the notice goes into the mail, before the lender sells your home at auction.
Texas is a non-judicial foreclosure state. This means that the owner and resident do not have to appear in court in order to be granted approval to foreclose. However, the owner does have to show all good-faith attempts at collecting prior to foreclosure in the event that the borrower wishes to contest.
The process may take as little as 41 days, depending on the timing between mailing the required notices and the actual foreclosure date. All foreclosure sales in Texas occur on the first Tuesday of the month between 10 a.m. and 4 p.m. The commissioner's court designates the loca- tion.