The Carvajal Group Blog

Bill in Texas Legislator May Reduce Foreclosures

May 18th, 2009

A current bill is in the Texas legislator that may reduce the number of foreclosures.  The current bill will increase the amount of time that a home owner has before they would be foreclosed on.  The current law makes it possible that foreclosure can occur within about 40 days.  The new bill will aim to make the foreclosure time-frame a lot longer.  The hope is that the individual will be able to find a workable plan to pay off the house, or that the person will be able to still have a place to live and enough time to make preparations for eviction.

The bill in its current form has already been approved by the Texas state Senate.  The bill just needs to be approved in the Texas House of Representatives to be passed. Because it passed in the Senate, it is likely to pass in the house.

If you are looking for Austin real estate, visit the Austin homes available through the Carvajal Group at 512-419-7770.

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