Foreclosure is a legal process by someone claiming that money is owed to them and payment of the money is guaranteed by the value of the land. The land guarantees payment of TAXES, MORTGAGES, HOME IMPROVEMENT LOANS, HOME EQUITY LOANS and RECORDED JUDGMENTS LIENS.

Foreclosure for taxes and judgment liens requires a court law suit. You should receive notice and an opportunity for a court hearing before the property can be sold without your consent. You should consult a lawyer immediately upon receiving court papers. A lawyer may have several options to help you stop the foreclosure. It is the responsibility of the home owner to make sure that the property taxes are paid every year. If you have a mortgage used to buy the land, the mortgage company will generally pay the yearly taxes and insurance from charges added to your monthly loan payment. If you have reason to be concerned about whether your taxes have been paid, you should contact the local county tax collector's office.

Foreclosure of a mortgage in a non-judicial process. So, generally, no court is involved. However, the foreclosure is controlled by a technical legal process. The mortgage holder must give you a written NOTICE OF DEFAULT. This means you have not paid money that is owed or you have broken some other term of the agreement such as failing to maintain hazard insurance. This notice will give you a specific number of days to cure the default. If you do not cure the default, the mortgage holder must give you a second written NOTICE OF ACCELERATION. This second notice must be given to you at least twenty (20) days before the day of the actual foreclosure sale. All foreclosure sales in Texas occur on the First Tuesday of each month generally on the steps of the county courthouse. These notices must be mailed to your last known address. If you receive a notice of default, you should contact a lawyer immediately.

If a foreclosure process is completed, your land will be sold at auction and the buyer will have the right to make you leave the property by using the eviction process available in the Justice of the Peace Court. If the foreclosure was for unpaid taxes, you will have 2 years to buy the property back. This is called the period of REDEMPTION. If you desire to buy the property back within the first 12 months, you must pay the person who bought the land for all the taxes they paid plus (25%) twenty-five per cent. If you desire to buy the property back within the second 12 months, you must pay the person who bought the land for all the taxes they paid plus (50%) fifty per cent. There is no right to redeem property sold through other types of foreclosure.