Do you know how to stop foreclosure in Texas without bankruptcy? If you're trying to preserve your credit and save your home, the answer may lie in your 401k account.

A 401k loan can stop foreclosure in Texas.

You can raise cash by tapping your 401k or your IRA, but if you do so, you will pay heavy penalties on top of the regular income tax.

A 401k loan allows you to access the money without the tax penalty.

If you are currently employed at the business which generated your 401k, contact the human resources division and ask if they process 401k loans.

If you've already left that employer, the task is trickier. You cannot obtain a loan from a previous employer's 401k.

However, if you are self employed, you can set up a solo 401k with a loan option. You can roll over all funds from IRAs and previous 401k's. At that point, you can borrow up to $50,000 or 50% of your solo 401k amount, which ever is less.

Because you are essentially borrowing from yourself, there is no credit check. The interest is set at the prime rate and is not adjusted during the loan term. Both interest and principal payments are put back into the 401k.

In order to take advantage of the Solo 401k option, you can only employ your spouse. You cannot have outside employees. If you are certain you can repay the amount, the 401k loan is a good option to stop foreclosure in Texas. However, realize that if you fail, you not only lose the house, you also lose a sizable chunk of your retirement monies.

More info on your stop foreclosure information search:

Get Free Foreclosure Advice and Free Refinance Quotes
Get your free on-line foreclosure refinance quote and free advice from foreclosure mitigation specialist in minutes. Compare real offers from top national subprime and hard money lenders... more...

California Law for Real Estate Investors - Including Forclosure Issues
Probate Issues One mistake that California real-estate investors make is signing a purchase contract too soon when a probate is required. Some real-estate investors try to buy properties when the deceased left real estate to family members or friends who cannot make the monthly loan payments. If ... more...

Foreclosure Problems? Get Help
When a person becomes late on their monthly house payment, eventually the lender will begin foreclosure proceedings which in most cases will start with a notice of default or a lis pendens recorded with the county where the property is located. There are data companies that collect this information ... more...

Equity Loan Mortgages May Help Homeowners Prevent Foreclosure
One of the solutions to foreclosure that we discuss much less often than others is obtaining an equity loan to pay off the arrears and reinstate the mortgage. This is because it is one of the more difficult options to qualify for, possibly more difficult than a standard foreclosure refinance. ... more...

Stop Foreclosure Loan - The Truth About What Can A Stop Foreclosure Loan Can Do For You
Stop foreclosure loan facts and fiction revealed. Irrespective of what anyone may have told you getting a stop foreclosure is fairly easily achievable. There are many lenders ready to provide you with a foreclosure loan irrespective of your credit history or even your historical mortgage loan ... more...