Texas Statute of Limitations

[jennsm]

Thank You So Much For Being Here.

I have been seeking answers to a couple of questions.
I am in the State of Texas.
I would like to know if a payment has not been made on a HOME EQUATY LOAN in four years and the lender has not filed any paperwork for foreclosure can the four year Statute of Limitations be used as a argument? It is my understanding that a written contract has a four year SOL.
Is a Home Equity Loan a judicial or non judicial foreclosure?

I have found answers but not one is a definitive answer that I can find in the Texas constitution or any where else.

Thank You So Much For Your Help.

 

[army judge]

Thank You So Much For Being Here.

I have been seeking answers to a couple of questions.
I am in the State of Texas.
I would like to know if a payment has not been made on a HOME EQUATY LOAN in four years and the lender has not filed any paperwork for foreclosure can the four year Statute of Limitations be used as a argument? It is my understanding that a written contract has a four year SOL.
Is a Home Equity Loan a judicial or non judicial foreclosure?

I have found answers but not one is a definitive answer that I can find in the Texas constitution or any where else.

Thank You So Much For Your Help.

Let's start by taking a look at the statute.

http://www.statutes.legis.state.tx.us/Docs/CP/htm/CP.16.htm#16.004

A home mortgage isn't treated the same as regular note.

A home mortgage is secured against the debt by a lien (or cloud) on a clean deed or ownership to the hime.

Sorry, the SOL does not apply to secured debt such as a home mortgage.

I may not have comprehended your question properly.

I'm confused as to why you believe that a SOL would preclude the lender from enforcing his or her rights to foreclose if the note is in arrears.

One could try to make an argument about laches.

I don't think that would be that persuasive to the court.

But, it's more sound legally than a SOL bar, but both would eventually fail.

I'm not sure what you're trying to accomplish, OP.

Are you trying to forestall a foreclosure on a home as the homeowner, or trying to foreclose on a home as a lender?

 

[jennsm]

Thank You Army Judge
I have found on several sites that in Texas Home equity and Home equity Line of Credit mortgages are treated different than other home loans. The loans have different rules and regs that must be honored.
The Texas constitution is very clear for the most part. When it come to HEL and HELOC things get confusing.
One of the rules is that a HEL has to go before a judge.
I am gathering all the information as well as problems with loan. The loan was illegal according to the Texas Constitution.
Two cases I found the used the SOL in their arguments against the lender.
I am gathering all I can with back up. With the Grace of God I just might get to keep my home.

Thank You Again

 

[army judge]

Thank You Army Judge
I have found on several sites that in Texas Home equity and Home equity Line of Credit mortgages are treated different than other home loans. The loans have different rules and regs that must be honored.
The Texas constitution is very clear for the most part. When it come to HEL and HELOC things get confusing.
One of the rules is that a HEL has to go before a judge.
I am gathering all the information as well as problems with loan. The loan was illegal according to the Texas Constitution.
Two cases I found the used the SOL in their arguments against the lender.
I am gathering all I can with back up. With the Grace of God I just might get to keep my home.

Thank You Again

Texas constitution offers protection for homes being foreclosed against because of a mortgage.
The line of credit (equity) loan you mentioned is another breed of cat.
If I recall correctly, you can only take a loan up to 80% of the hime's value so that people don't lose their homes.
Most of the time all they can do is put a lien on your home, not foreclosed and evict you.
If you're disabled, a disabled vet, or a senior, there are more protections.