FORECLOSURE PROCESS – LOUISIANA and TEXAS
Foreclosure is one of the scariest things a person can go through and comes with some highly devastating effects. Not only will you lose your home, but your credit score will surely tank. You may think, “Okay, I’ve learned some valuable lessons. I’ll move on from this.” This may be true, however, moving on after a foreclosure can prove more difficult than you think. A foreclosure on your credit report will make it almost impossible to secure another mortgage on another home for upwards of 7 years. You’ll be forced to either rent for the next almost decade or stay with family or friends. It can even impact your livelihood and your ability to obtain certain employment positions that require a financial background check. Bottom line, the whole ordeal can be extremely stressful and embarrassing. Texas and Louisiana both follow a non-judiciary foreclosure process, making it particularly fast and ruthless. Mortgage companies can start the foreclosure process as soon as you are 90 to 12...