Buying a home is often a rite of passage for many Texas residents. After all, it is part of the American dream. Right? The problem is that when a homeowner encounters financial difficulties, his or her mortgage loan lender may begin foreclosure proceedings for nonpayment.
Should a Texas homeowner simply accept this fate? It is not always necessary to do so. If he or she wants to keep the home, or otherwise avoid a negative mark on his or her credit, an alternative may be possible. Whether any of those alternatives will yield results depends on the particulars of the situation.