After a non-judicial foreclosure sale on a Texas homestead, the former homeowner refuses to vacate. The buyer at the foreclosure sale wants to take possession. Under Texas law, how must the buyer proceed?
Correct Answer
B) The buyer must file a forcible detainer action in justice court to obtain a court order for eviction
Under Texas law, the buyer at a foreclosure sale must follow the legal eviction process. This requires filing a forcible detainer action in justice court (Texas Property Code §24.004). The buyer cannot use self-help to evict the former owner.
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In the context of foreclosure, a deed transfers ownership of the foreclosed property to the new owner, typically the buyer at a foreclosure sale.
Discount points are upfront fees paid to a lender at closing to reduce (buy down) the interest rate on a mortgage loan. One point equals 1% of the loan amount and typically reduces the rate by approximately 0.25%.
An FHA loan is a mortgage insured by the Federal Housing Administration that allows lower down payments and credit scores than conventional loans. It is designed to help first-time homebuyers and borrowers with limited resources.
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