Following foreclosure, a San Antonio resident could find him or herself being evicted from the home. However, with the assistance of a skilled foreclosure defense attorney, many San Antonio residents can seek to stop an eviction so they can stay in their homes.
The way you go about stopping your eviction from going forward may depend on whether the home has already been sold in a foreclosure sale or if it hasn't been sold yet. Let's take a look at both these situations:
-- Before a foreclosure sale: Before your home has been sold in a foreclosure sale, you can try to stop your eviction through steps that prevent the foreclosure itself from moving forward. For example, you might try to negotiate with your lender by discussing how much you're capable of paying each month to create a payment plan. You could also seek government aid through a variety of programs like the Making Homes Affordable program.
Bankruptcy could also work before a foreclosure sale to stop an eviction. Bankruptcy would ultimately serve to postpone the foreclosure process until the finalization of the bankruptcy.
-- After the foreclosure sale: If your home has already been purchased through a foreclosure sale, you can still seek to prevent or delay your eviction. For example, you can try to a strategy called statutory redemption to reclaim ownership. When statutory redemption is not an option -- which sometimes is the case depending on the state laws at play -- you might choose to voluntarily leave the premises. This can come with some advantages if you negotiate a "cash for keys" agreement with the new owner of the residence.
Homeowners have a lot of options available that can help them avoid a foreclosure-related eviction. If you're facing the threat of eviction, a Texas foreclosure defense lawyer can help you assess your situation to determine your legal rights and options.
Source: FindLaw, "How to Stop Eviction After a Foreclosure," accessed June 23, 2017