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The foreclosure process in Texas involves tight deadlines and specific steps. To prevent foreclosure, talk to the lender about payment plans, temporary forbearances, or loan modifications.
This is basically a document telling you that the lender will foreclose on your property if you do not take action to stop it. Ignoring it will only lead to further legal trouble, and it could prevent you from being able to negotiate with the lender to find a solution that allows you to keep your home.
Texas law requires the servicer to send you (the borrower) a notice of default and intent to accelerate by certified mail that provides at least 20 days to cure the default before a notice of sale can be given. The 30-day breach letter sent pursuant to the terms of the deed of trust can satisfy this requirement.
If you are still living in the home after a foreclosure, the new owner will have to evict you. You'll get a notice to vacate (usually giving three days' notice) before an eviction is filed. Some lenders will pay moving expenses in order to avoid the time and expense of an eviction proceeding (called ?cash for keys?).
Declaring bankruptcy in Texas is one option you have when deciding how to stop foreclosure proceedings. As soon as the petition is filed in court, an automatic stay is put in place that prevents a foreclosure from proceeding.