Foreclosure

Foreclosure

When a borrower defaults on their mortgage, a lender can legally take possession of the property through a process known as foreclosure. A notice of default often initiates the procedure, which can end in a public auction, while state-by-state variations exist in the precise steps and deadlines.

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Main Street Mortgage Company

Why Understanding Foreclosure Matters

  • Protecting Homeownership: Knowing the foreclosure timeline helps homeowners act early by negotiating repayment plans, refinancing or selling before the process advances.
  • Lender Risk Management: Clear procedures help lenders recover outstanding loan balances and limit financial losses.
  • Market Stability: Instead of letting houses stay empty, a predictable foreclosure procedure keeps them occupied and maintained.
  • Credit Impact Awareness: By being aware of how foreclosure impacts credit scores, borrowers can select the least detrimental course of action for their long-term financial well-being.

Click & Learn

First-Time Homebuyer
Interest Rates
Hard To Qualify For
Buying A Modest Home
Super High Loan Minimum

First-Time Homebuyer

Risk Factor

You cannot get a jumbo loan as a first-time homebuyer.

Solution

But this is not the case. Even if you are buying your first home, you can apply for a jumbo loan. And you may be successful depending on your credentials.

Interest Rates

Risk Factor

You will pay a higher interest rate on a jumbo loan.

Solution

DSCR loan interest rates are comparable to conforming loans.

Hard To Qualify For

Risk Factor

Jumbo loans are hard to qualify for.

Solution

Jumbo loans are a bit more difficult to qualify for but not by very much as a credit score of 720 is fairly easy to achieve.

Buying A Modest Home

Risk Factor

You do not need a jumbo loan if you are not buying a mansion.

Solution

It is not uncommon for regular homes to require more financing to buy than you can obtain through the use of a conforming mortgage.

Super High Loan Minimum

Risk Factor

Jumbo loans require a super high loan minimum.

Solution

Jumbo loans don’t start at $1 million dollars. Instead, the minimum amount for a jumbo loan is anything above the conforming loan limit of $647,200.

Benefits of Foreclosure Guidance and Support

  • Homeowners: Professional assistance explains rights and deadlines, investigates possibilities such as loan modification or short sale and can maintain credit standing by resolving arrears sooner.
  • Investors: Expert advice makes bids more informed by highlighting acquisition prospects at pre-foreclosure pricing and offering precise cost forecasts.
  • Lenders: A well-managed process ensures compliance with federal and state regulations, speeds up asset recovery and lowers holding costs.
  • Real-Estate Agents: Agents gain the knowledge to assist distressed sellers and connect buyers with competitively priced inventory.

How Main Street Mortgage Company Can Help

  • Early-Stage Counseling – We work with borrowers at the first sign of payment trouble, exploring solutions that keep families in their homes whenever possible.
  • Loss-Mitigation Programs – Our team coordinates loan modifications, forbearance agreements and repayment plans tailored to individual circumstances.
  • Efficient Processing – When foreclosure cannot be avoided, we manage every step, from filing to property transfer, while maintaining full legal compliance.
  • Educational Resources – We offer guides, webinars and one-on-one support to help homeowners, investors and partners clearly understand their options and obligations.

Main Street Mortgage Company

We bring a customized, unique approach to mortgages. Our lending solutions use the perfect hybrid of human-driven insights and technical prowess to process loans faster and significantly reduce costs.

PHONE

(713) 528-1245

E-MAIL

pes@texasmainstreet.com

ADDRESS

3100 Richmond Ave 
#107 Houston, TX 77098

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Consumers wishing to file a complaint against a company or a residential mortgage loan originator should complete and send a complaint form to the Texas Department of Savings and Mortgage Lending, 2601 North Lamar, Suite 201, Austin, Texas 78705. Complaint forms and instructions may be obtained from the Department's website at www.sml.texas.gov. A toll-free consumer hotline is available at 108770276-5550.
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