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Updated over 3 years ago on . Most recent reply

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Joe S.
  • Investor
  • San Antonio
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Have foreclosures in Texas resumed For a government backed loans?

Joe S.
  • Investor
  • San Antonio
Posted

So my question is has foreclosures in Texas resume for government backed loans? I’m a bit confused because I thought they were still on hold. Then November 2,2021 a property that we could not get title insurance on fast enough for closing Foreclosed before we could buy it from the seller. The loan was serviced by Mr. Cooper and the best I could tell it was a government backed loan. 🧐

  • Joe S.
  • Most Popular Reply

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    Bruce Lynn#1 Real Estate Agent Contributor
    • Real Estate Broker
    • Coppell, TX
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    Bruce Lynn#1 Real Estate Agent Contributor
    • Real Estate Broker
    • Coppell, TX
    Replied

    Looks like many of the restrictions have been lifted.

    We don't have a lot of foreclosures for a lot of reasons though....price run up is one so people have equity for the most part.  Also if they have income and just missed payments, then workouts are preferred right now.  No bank wants the wrath of the administration on them if they create a wave.

    HUD homestore has been empty for months and now has some properties listed.

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