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Texas law requires that the lender/servicer must send the borrower a notice of default and intent to accelerate by certified mail that provides at least 20 days to cure the default before notice of sale can be given.
In a non-judicial foreclosure, after the 20-day "right to reinstate" period has expired and at least 21 days before the sale, the servicer must provider the borrower with a Notice of Sale, letting them know the date and earliest time of the sale.
How To Buy Foreclosed Homes in Texas Do Your Research. To get started with buying foreclosed homes, consider pre-foreclosures or REOs which allow for traditional funding and due diligence. ... Secure Funding. ... Work With Realtors. ... Conduct as Much Due Diligence as Possible. ... Submit an Offer and Complete the Closing Process.
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.
Foreclosure Sale If you don't make up the missed payments by the deadline provided in the notice of default, the lender will file a notice of sale. This notice will include the date, time, and place of the foreclosure auction. It will be recorded with the county clerk and is typically published in a newspaper.