Owe more than the house is worth
The loan is bigger than a sale will bring. That is negative equity. A listing price does not erase it. The lender has to approve a payoff below the balance and release the lien. That purchase is a short sale. You are the seller. We are the buyer. We negotiate our number because we are on the contract. We do not represent you.
People wait because they think values will catch up, or the auction will “cover it.” Fees run first. A Fort Bend first-Tuesday sale is not a price you set. Start this file before a clerk posting. After the 21-day notice, the calendar is the first Tuesday, not the servicer’s review queue.
Cash only works if the payoff still pencils. If you owe more, cash without a short approval does not close. That is the math. Katy, Sugar Land, Richmond, the rest of the metro.
We do not stop a foreclosure sale. Short sale buyer. Will the lender take a short payoff. Talk about selling the house. If you want to keep it, that is free help, not us.
What the statute actually says
Negative equity does not freeze the sale. If the servicer posts the house, Property Code § 51.002 still sets the first Tuesday and the 21-day notice. A short sale is a purchase the lienholder has to approve. It is not a right in that chapter.
If the house instead goes to auction and the bid does not cover the debt, remaining liability is a deficiency question under § 51.003. Fees run first. That is why “the auction will cover it” is not math. We negotiate our number as the buyer. We do not promise a waiver.
Statute links are the official text. This site is not a law firm. We buy houses. We do not give legal advice.
We do not stop a foreclosure sale. We are the buyer, not your agent.
Related: Is this house in foreclosure? · Sell a house in foreclosure · How we buy · Default letter · Owe more than it is worth · Fort Bend sale months