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What is a Foreclosure Property?
In the State of Texas whenever an individual purchases real property and finances the transaction with a mortgage loan the lender requires the borrower to execute both a Mortgage Note and a Deed of Trust to the property. This Deed of Trust is recorded in the County where the property is located when the loan is made. Hence the Deed of Trust becomes public record.
Later, if the borrower defaults on the mortgage loan, the lender notifies the Trustee and instructs the Trustee to file a Notice of Trustee Sale.
The Trustee or Substitute Trustee is required to post a notice at the county court house 21 days prior to the foreclosure auction. In Texas all foreclosure auctions occur on the first Tuesday of the month between the hours of 10:00 am and 4:00 pm on the steps of the court house.
Click here to see photos of a recent auction.
All Foreclosure sales become public record when the Trustee files the Notice of Trustee Sale. Several companies compile this and distribute the information for a nominal cost. Their names and contact information can be found on our site.
We provide the compiled information, a photo of the property and our market analysis free of charge for the exclusive use of our clients.
Click here to see a sample of a foreclosure property listing.
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