What is the maximum amount of time a borrower has to cure a default under Texas law before foreclosure?

Under Texas law, a borrower has a maximum of 20 days to cure a default before the lender can proceed with foreclosure. This period is designed to provide the borrower with an opportunity to remedy the situation by addressing any missed payments or defaults before the severe consequence of foreclosure can take place.

This framework not only aids borrowers in maintaining their homes but also reflects the state’s approach to handling loan defaults, emphasizing communication and resolution prior to initiating foreclosure. Understanding this timeline is crucial for any party involved in real estate finance in Texas, as it outlines both the responsibilities of borrowers and the actions that lenders can take in the event of a default.