Texas short sales

[Account Closed]

A few questions about doing short sales in Texas.

- How early do you need to catch a seller before the foreclosure process starts in order for there to be time?
- If the seller has received notice of default, is there still time to do a short sale?
- If the seller is already 2 months or more behind in payments, is it wise to use money out of pocket to catch them up if the bank demands that before a short sale could be approved?

Would like to hear from anyone having some luck at short sales in Texas, as ive not done any yet.

[Rich Weese]

Randal,
Sorry , but you're wasting your time in Texas. I just moved to Fl from So. Texas last week. Texas has wierd laws. Every county in Tx holds the foreclosure sales the first tuesday of each month(no exceptions- I bought property at the courthouse NEW YEARS DAY!!!!
Notice of defaults are required to be posted 21 days prior to sale- that is all. It takes longer for me to remove a deadbeat tenant than for someone to be foreclosed on in TX!! You have 21 days to find out what properties are on the block, location, liens, taxes etc and that is NORMALLY not enough time to even contact the lender and seller. Also, most lenders in Tx don't comprehend the short sale scenario. Now FL, that is a different story. Come on down here and there are HUNDREDS of short sales to work on, just in one town, Lehigh Acres.Good luck, Rich
P.S.I bought 30-40 homes at foreclosure in the last 22
months in Tx. Lot of work.