What is Foreclosure?

The worst way to lose a house is through foreclosure.

If you fall behind in your mortgage payments, a foreclosure is the procedure by which the lender forces the sale of your property so it can be repaid for the debt you owe. The foreclosure process moves very quickly in Texas and can happen in as little as six months following your first missed payment.

Foreclosure Consequences

Foreclosure damages your credit for years.

We call foreclosure "the atomic bomb of credit scars" because it cuts the deepest and lasts the longest. The truth is that foreclosure is the beginning of an eight to 10-year nightmare that can involve:

Eviction by the sheriff
Job and career limitations
Embarrassing creditor battles
Deficiency judgments and lawsuits
Tax ramifications
Garnished wages
Loan qualification challenges
Loss in home equity
Typical Foreclosure Timeline

Foreclosure can happen in as little as 6 months following your first missed payment.

Foreclosure Timeline

Note: This is a representative example. The foreclosure timeline can vary on a case-by-case basis.

Know Your Options

Everyone deserves to know their options.

Helping homeowners avoid foreclosure and learn their options is what we do best. We will work with you to find the best solution based on your situation and needs.

Bankruptcy
Temporary restraining orders
Deed-in-lieu of foreclosure
Catch-up payments
Forbearance plans
Loan modification
Short sales
Sell your house

Get in touch with us today and together, we’ll find the best approach.

Find out how we can help.

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Client Testimonials

People are talking about Morales & Stone

Carolyn - Garland, TX

“Thank you so much for helping my family through this difficult time. We thought we were out of options and going to lose our house. We walked away with money AND peace of mind.”

Carolyn - Garland, TX
Woodie - Dallas, TX

“It was a painless process all the way through. I got a great read on you guys from the beginning and it’s been wonderful working with you. You’ve restored my faith in business people.”

Woodie - Dallas, TX
Zach - Desoto, TX

“You presented me with all my options and I’m so thankful you found a way for me to stay in my house. I thought you just wanted to buy my house for pennies on the dollar!”

Zach - Desoto, TX