When a Texas homeowner stops making mortgage payments, he can go into foreclosure. Understanding foreclosure in Texas means knowing the specific laws which govern real estate in the Lone Star state.

There is a general process that a foreclosure goes through:

1. Homeowner misses payments

2. Notice given to homeowner that foreclosure is in process

3. Time to cure debt

4. Court or other proceedings

5. Sheriff's Sale

6. Redemption period

But how does all of this apply in Texas, which is considered the toughest foreclosure state in the country?

For instance, under Texas law, the lender has the right to require the homeowner to pay off the entire loan if payments are missed. In most states, the homeowner just has to pay off the past due amount.

After the notice is served on the homeowner, he has only twenty days to cure the deficit before the house goes into foreclosure. That's the shortest period of time of any of the states in the US.

Lenders have the option of pursuing either a Judicial or Non-Judicial foreclosure. A Judicial Foreclosure is used when no "power of sale" clause is in the mortgage. Then a Judge has to make an order. A Non-Judicial Foreclosure can be used when there is a "power of sale" clause.

After the 20 days are up, a notice is given to the court and to the homeowner that the property will be sold. The house tends to be sold at an auction near the courthouse.

The highest bidder at the foreclosure auction receives title to the home, even if that does not cover the amount of the mortgage and/or secondary notes.

If the proceeds of the auction are not enough to cover the amount owed by the homeowner, he is still responsible for making that payment to the lender. This is known as a Deficiency Judgment.

Understanding foreclosures in Texas begins with knowing what the specific statues governing Lone State foreclosures are.

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