New bill introduced in Texas to give more time to homeowners get a Loan Modification
Homeowners who are falling behind on their mortgages in the state of Texas can lose their homes within 41 days of getting their first foreclosure auction notice by the banks or mortgage lenders.
A new bill which has already been passed by the Senate has now been introduced in the Texas house which will give homeowners much more time to look for a solution to their mortgage problems. The extra time is being considered by the state so that homeowners can contact loan modification consultants to get their loan reworked for them and also to give homeowners time in the event they elect to put their home on the market for sale.
Although the new bill has been welcomed by homeowner advocates, there still remains much more to be done to provide better support to help homeowners avoid foreclosure and save their homes.
