Facing Foreclosure? Here's How to Sell Before It's Too Late
Time is critical. Learn about the Texas foreclosure timeline and how a quick cash sale can help you avoid foreclosure and protect your credit.
Time-Sensitive Situation?
If you've received a foreclosure notice, don't wait. The sooner you act, the more options you have.
Call Now: (361) 239-6839Receiving a foreclosure notice is one of the most stressful experiences a homeowner can face. The fear of losing your home, damaging your credit, and the uncertainty of what comes next can be overwhelming.
But here's the truth: you have options. And if you act quickly, you may be able to sell your home, pay off your mortgage, and walk away with cash in your pocket – all while avoiding foreclosure on your record.
Understanding the Texas Foreclosure Timeline
Texas is a non-judicial foreclosure state, which means foreclosures can happen relatively quickly – without going through the court system. Here's the typical timeline:
Day 1-30: Missed Payment
After missing one payment, your loan is considered delinquent. Late fees begin accruing.
Day 30-90: Default Notice
After 3 missed payments, lender sends a formal notice of default. This is your warning.
Day 90+: Notice of Sale
Lender files a Notice of Sale. You have at least 21 days before the auction date.
Auction Day (First Tuesday)
In Texas, foreclosure auctions happen on the first Tuesday of each month at the county courthouse.
The key takeaway: From the first missed payment, you could face auction in as little as 60-90 days. But until that auction gavel falls, you have the right to sell your property.
Every day counts when facing foreclosure
We can close in as little as 7 days – often fast enough to stop the foreclosure process entirely.
Get Emergency Cash OfferWhy Selling Before Foreclosure Is So Important
A foreclosure on your record is devastating. Here's what's at stake:
Credit Damage
Foreclosure drops your credit score 100-150+ points and stays on your record for 7 years.
Future Home Buying
You'll be unable to qualify for a new mortgage for 3-7 years after foreclosure.
Employment Impact
Some employers check credit history. Foreclosure can affect job opportunities.
Deficiency Judgment
In Texas, lenders can sue you for the difference between sale price and loan balance.
By selling before foreclosure, you avoid all of this. Even if you sell for less than you owe, you may be able to negotiate a short sale with your lender – and walk away clean.
How a Cash Sale Can Stop Foreclosure
Traditional home sales take 3-6 months – time you don't have when facing foreclosure. A cash sale is different:
- Close in 7-14 days – Fast enough to beat most auction dates
- No financing contingencies – Cash deals don't fall through due to loan issues
- No repairs required – Sell in any condition, even if you've deferred maintenance
- We work with your lender – We can help negotiate short sales if needed
What If I Owe More Than the House Is Worth?
This is called being "underwater" on your mortgage. It doesn't mean you're out of options:
Short Sale Option
A short sale is when your lender agrees to accept less than you owe. While your lender must approve, many prefer short sales to foreclosure because:
- They recover more money than at auction
- Less legal expense and hassle
- Property is typically in better condition
We have experience working with lenders on short sales and can help guide you through the process.
Don't Wait Until It's Too Late
Every day you wait reduces your options. Contact us now for a confidential consultation and cash offer.
Coastal Cash Buyers
Local Corpus Christi cash home buyers helping homeowners since 2018. BBB Accredited. 5-Star Google Rating.