Texas is a non-judicial foreclosure state. That means foreclosure can move faster than in many other states — sometimes in as little as 3–6 months from the first missed payment.
The Texas Foreclosure Timeline
Here is the typical sequence of events in a Texas foreclosure:
- Missed payments — After 1–3 missed payments, your lender will begin sending default notices
- Notice of Default — The lender sends a formal written notice giving you 20 days to cure the default
- Notice of Sale — If the default is not cured, the lender must provide at least 21 days notice before the auction date
- Foreclosure Auction — The property is sold at the county courthouse on the first Tuesday of the month
- Eviction — If you haven’t vacated, the new owner can begin eviction proceedings
Key Texas Foreclosure Facts
- Texas does not require court approval for most foreclosures (non-judicial)
- Foreclosure auctions occur on the first Tuesday of every month
- Texas has a right of redemption for tax foreclosures but generally not for mortgage foreclosures
- Lenders may pursue a deficiency judgment if the auction price doesn’t cover the loan balance
- The entire process can happen in as little as 41 days after the notice of default (though typically 3–6 months)
What You Can Do During the Foreclosure Process
You have options at every stage of the foreclosure process — but your options narrow as the auction date approaches. The earlier you act, the more choices you have:
- Reinstatement — Pay all past-due amounts plus fees to bring the loan current
- Forbearance agreement — Negotiate a temporary pause or reduction in payments with your lender
- Loan modification — Permanently restructure your loan terms
- Deed in lieu of foreclosure — Transfer the property to the lender to avoid foreclosure
- Sell the property — A cash sale can close in 7–14 days, before the auction date
If you’re facing foreclosure in Frisco or Collin County, contact us today. We can review your situation and present options — including a fast cash offer if that’s the right path for you.
Frequently Asked Questions
Can I stop a Texas foreclosure at the last minute?
In some cases, yes. You can stop a foreclosure by paying the full amount owed (reinstatement) up until the auction begins. A cash buyer can sometimes close quickly enough to stop the auction, but this requires acting immediately. The sooner you reach out, the more options you have.
What happens after a foreclosure auction in Texas?
After the auction, the new owner receives a trustee’s deed. If you haven’t vacated the property, they can file for eviction. If the auction price was less than your loan balance, the lender may pursue a deficiency judgment against you for the difference.
Does Texas have a redemption period after foreclosure?
For mortgage foreclosures, Texas generally does not have a post-sale redemption period. Once the auction occurs, the sale is final. This is another reason why acting before the auction is so important.
How do I find out when my foreclosure auction is scheduled?
Your lender is required to send you a Notice of Sale at least 21 days before the auction. Foreclosure notices are also posted at the Collin County courthouse. You can also contact your lender’s loss mitigation department directly to get the scheduled auction date.
We help homeowners throughout Frisco, McKinney, Plano, and all of Collin County. Request a free, confidential consultation today. As local Collin County cash home buyers, we help homeowners avoid foreclosure every day.