Houston Real Estate & Property Law – Property Foreclosure
Most property owners, even those without any special real estate law expertise, are familiar with the concept of property foreclosure. The foreclosure crisis of the late 2000s, which precipitated a global economic meltdown and dramatically affected business planning and activity across the United States, remains fresh on the minds of many Americans.
Although foreclosure activity has returned to historically normal levels, thousands of homeowners and commercial property owners in Sugar Land, Missouri City, Pearland and other Texas communities contend with the threat of property loss each year. Regardless of their current financial situations and plans for the future, all property owners must understand their rights and obligations with respect to this important area of consumer law and corporate law.
Residential and Commercial Real Estate Foreclosure in Sugar Land, Galveston and Greater Houston
Although it most often affects property owners who have become delinquent on their mortgage payments, foreclosure proceedings may have numerous proximate causes. These include:
- Delinquency on a mortgage loan or home equity loan
- A judgment lien, often tied to unpaid debts or a civil judgment, on the property
- Delinquency on an HOA assessment
- Delinquency on property taxes and other obligations
Fortunately, it is often possible to mount a successful defense against foreclosure proceedings. Although the unique contours of each situation determine the appropriate approach, common foreclosure defenses include:
- The apparent lender no longer holds an equity interest in the property due to the repackaging and sale of the original loan
- Loan or tax payments were improperly assessed, applied or appropriated
- The property is subject to a homestead exemption or other exclusion that prevents its seizure
- The foreclosing entity does not have the legal right to initiate proceedings
Fight Property Foreclosure with a Houston Real Estate Attorney
At the Law Offices of Lambert & Jakob, we understand how frightening and disorienting the foreclosure process can be. Property owners who lack familiarity with the minutiae of business law often struggle to understand how and why they are being targeted by creditors, homeowners associations and other parties with a supposed interest in their properties.
We are proud to serve as an ally in the fight against unjustified foreclosure proceedings. We pledge to do everything in our power to forestall and prevent foreclosures with the ultimate aim of keeping as many property owners as possible in their homes and businesses – for as long as possible. Whether you are a small Katy business owner facing foreclosure threats from your creditors or a Fort Bend County homeowner in the midst of battle with an aggressive mortgage lender, we are happy to evaluate the merits of your case and assist in your defense.
For more information about how our commercial and residential real estate attorneys can assist with your property foreclosure case or any other property law issues in Harris, Waller and Fort Bend Counties, please call (713) 640-5700 or fill out the online contact form to schedule a free, no-obligation consultation.