TESTIMONIAL
“They pulled through and pulled strings… and before you knew it, I was a happy camper. Get a hold of these people and they can help you out. I guarantee it”.
– Mr. and Mrs. Herby
Foreclosure is a deeply troubling situation that occurs when homeowners fall behind on mortgage payments and cannot resolve their outstanding debt. Since a mortgage represents a legally binding agreement between you and your lender, defaulting on payments can authorize the lender to auction your property to recover their money. At Electrum Properties, we understand this predicament can lead to not only losing your home but also suffering long-term damage to your credit score, making it harder to secure housing in the future. We’re here to offer a fast, cash solution that helps you avoid these devastating consequences and get your freedom back.
No one wants to receive a notice of foreclosure and yet, in a nationwide study, nearly 1 million Americans were afraid of losing their homes (U.S. Census Bureau Household Pulse Survey, fielded from July 27 to Aug. 8, 2022). Foreclosure can occur from a number of reasons, including:
- Job loss and loss of income
- Divorce or death of a spouse or partner
- Mounting debt, including medical and credit cards
- Moving without being able to sell the home
- Natural disaster
If you have a home in foreclosure, we would love to help you! Electrum is a local company operating in Texas that has built their business by buying distressed houses and properties in the area for cash. We promise competitive cash offers without the hassle of dealing with real estate agents, title companies, traditional bank financing, and more!
SELL YOUR HOME IN FORECLOSURE
If you’re in foreclosure or about to be… this is for you!
At Electrum, our goal is simple: to help homeowners like you get out of a tough situation with the cash you need to take back your freedom.
If you’re facing foreclosure — or it’s right around the corner — we can help!
We buy houses AS-IS, fast, and for CASH — no repairs, no commissions, no delays.
What is Foreclosure?
Imagine this scenario: You or your partner unexpectedly becomes unemployed, and while expenses keep mounting, making your mortgage payment grows increasingly difficult. Even securing a new position might not provide enough income to address the accumulating debt. As this financial strain builds, the threat of foreclosure looms larger, creating genuine anxiety about your family’s future.
How Long Do You Have To Get Out of Your House After Foreclosure?
The foreclosure process in Texas typically progresses through several distinct phases: initial missed payments, public notification, formal foreclosure filing, property auction, and finally, eviction. Each phase’s duration varies according to state-specific regulations. Homeowners generally have a window of 120 days to nine months before the lender can legally begin either judicial or non-judicial foreclosure proceedings. Throughout this period, your lender will maintain communication via phone calls, postal mail, and email to provide status updates and explain the upcoming steps in the foreclosure timeline.
The Different Types of Foreclosure
There are two different types of foreclosure you may experience: nonjudicial foreclosure or judicial foreclosure.
What Is Non-Judicial Foreclosure?
When lenders pursue a non-judicial foreclosure, they’re selecting the quickest and most economical path to reclaim your Texas property. This streamlined process bypasses court involvement, sparing homeowners from drawn-out legal proceedings while adhering to state-specific guidelines. Through the “power-of-sale” clause in your deed of trust, lenders can take ownership of your home and sell it to recover what you owe. Though not available in all states, lenders typically prefer this method because it helps them avoid expensive legal fees and procedural delays that come with formal court actions.
What Is Judicial Foreclosure?
When facing foreclosure in judicial foreclosure states, your lender must pursue legal action through the courts before selling your property. You’ll receive formal notification of this lawsuit, and regardless of your position, responding is critical. Failure to reply results in an automatic judgment for the lender, allowing them to proceed with the foreclosure sale. Remember that even after the sale, you might still be liable for the deficiency balance—the gap between your outstanding mortgage and what the home sells for.
Foreclosure auctions follow a completely different process than standard real estate transactions, frequently resulting in homes selling for far less than their true value. Even when your property is in pristine condition and valued substantially higher than your remaining mortgage balance, you might still find yourself responsible for tens or even hundreds of thousands in leftover debt after losing your home – what’s legally termed a deficiency judgment. Since judicial foreclosures involve extensive time and expense, many lenders opt for the non-judicial foreclosure route as a more expedient and cost-effective method to recoup their investment.
Get an offer today, sell in a matter of days.
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How to Sell Your House Before Foreclosure in Texas
Sell Your Home AS-IS to A Cash Buyer
If you’re facing a tight deadline to sell your home before foreclosure leads to auction or eviction, selling your property to a real estate investor might be your best option. A trusted cash home buyer can help you quickly!
With years of experience in this market, our company specializes in solving real estate problems and bringing peace of mind to homeowners and communities. Many homeowners who were once overwhelmed by their situation walked away free from stress—with cash in hand. That’s because we offer a simple, fast process, unlike the traditional route with real estate agents, which can be costly and take months to close.
Some key advantages of selling to a direct cash investor include:
- A fast and hassle-free closing process.
- No commissions or hidden fees.
- No need to market your home or wait for a buyer.
- No cleaning, repairs, or renovations required (we buy houses AS-IS)
By selling your property AS-IS to a cash buyer, you can avoid foreclosure and potentially walk away with enough funds to settle outstanding debts. Freeing yourself from the weight of mortgage payments and financial stress can be one of the greatest steps toward a fresh start!
JARROD FRANKUM
#1 CASH HOME BUYER IN TEXAS
At Electrum, we purchase houses throughout Texas and the entire Texas area. Our process is straightforward, transparent, and we cover all closing costs.
Skip the headaches of traditional real estate and sell your home in foreclosure fast! With us, you’ll avoid agent fees, open houses, and drawn-out negotiations—saving you time and money.
Can You Stop Foreclosure Once it Starts?
Pay Off Your Loan & Fees
You’re facing a challenging financial situation—your debt keeps growing while your income stays the same. Now is the time to take action and find a way to pay it down quickly. Do you have any assets you can sell? Perhaps friends or family members could offer financial support through a loan or gift to help you regain stability. If you’re committed to reducing your debt and avoiding foreclosure, consulting a financial expert could be a smart move to restructure your budget. Whether you use one of these strategies or a combination of them, taking proactive steps can help you regain control and move toward a stress-free financial future.
Declare Bankruptcy
As a final option, bankruptcy may temporarily halt foreclosure, but it comes with significant consequences. The process is complicated and requires the expertise of a bankruptcy attorney. If your petition is approved by the court, you’ll be enrolled in a government-mandated credit counseling program, and the bankruptcy will remain on your credit report for seven years. This can impact many aspects of your financial life, making it difficult to secure a car loan, open new credit accounts, or even qualify for rental housing in the future.
The Homeowner Affordability and Stability Plan (HASP)
If your debt is higher than your income, you may be eligible for the Homeowner Affordability & Stability Plan (HASP). HASP is a loan modification program targeted at borrowers who are at risk of foreclosure due to insufficient income. This government program was designed to help homeowners in the United States restructure their monthly payments to fit a limited budget. Apply for the program here to see if you qualify.
Sell Your Home In Foreclosure to a Cash Buyer
Facing foreclosure and need to sell your home in foreclosure without the month-long wait of traditional closings? Worried about credit damage from a short sale? Feeling overwhelmed by bank pressure and mounting debt? At Electrum, we offer the win-win cash solution you’ve been searching for!
When you partner with Electrum Properties, you’re choosing a trusted cash buyer with an established track record of helping homeowners solve real estate problems. We provide an immediate solution that lets you sell your property in any condition, with funds readily available to close quickly. This empowers you to sidestep foreclosure stress, avoid eviction and auction complications, protect your credit score, and get your freedom back—all within days, not months.
While our cash offers may not match full retail value, the comprehensive benefits often make the difference worthwhile. We offer advantages that traditional buyers can’t: lightning-fast closings, zero commission fees, no repair or cleaning requirements, no mandatory inspections, and absolutely no surprise charges. Most importantly, our ability to close quickly means you can often sell before foreclosure auction—maintaining control and achieving a better financial outcome rather than watching the bank liquidate your property at a steep discount. At Electrum Properties, we’re committed to creating solutions that benefit both homeowners and communities.
We make it easy
No matter the situation, Electrum can help you!! We buy homes in foreclosure FAST & for CASH! Contact us today and get your freedom back!
Related Articles
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What Homeowners in Texas Can Expect During the Foreclosure Process
The Difference Between Pre-Foreclosure and Foreclosure for Homeowners in Texas
How to Sell Your House During Bankruptcy in Texas
Stopping the Foreclosure Process: A Guide for Texas Homeowners
We Buy Houses in Foreclosure & Pre-foreclosure–
Get Your Offer Today!
Does the idea of finally walking away from a property without the storm cloud of foreclosure hanging over your head? Contact a real professional at Electrum to find out more and get a fair cash offer for your property today.
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