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Androvett Blog

by Robert Tharp at 11:27:08 am

Foreclosure Follies

For lenders considering foreclosure, the temptation to avoid the associated legal fees must be great. But just because Texas law allows lenders to foreclose on properties without any judicial involvement doesn't mean it's a good idea. THAD ARMSTRONG of Thompson & Knight advises caution for anyone thinking about going down the foreclosure path without legal counsel. "If the lender has not precisely followed the letter of the foreclosure law, a borrower with a basically competent lawyer could challenge the sale and get it set aside in court," says Armstrong. "Despite Texas' straightforward foreclosure laws, courts are reluctant to strip borrowers of their rights to own property in light of an irregular sale." To interview Mr. Armstrong about foreclosure laws in Texas, contact Bruce Vincent at 800-559-4534 or bruce@androvett.com.