In Texas, a homeowner does not have a statutory right of redemption when property is foreclosed under which condition?

In Texas, a homeowner does not have a statutory right of redemption when property is foreclosed under a deed of trust. This is a key point within the context of Texas foreclosure laws. Specifically, when a property is secured by a deed of trust, and foreclosure occurs due to default on the mortgage or non-payment of the loan, the borrower (homeowner) is unable to reclaim the property by paying off the debt after the foreclosure sale.

This differs significantly from scenarios involving other forms of foreclosure, such as those arising from non-payment of property taxes, where a right of redemption may allow the homeowner a window of opportunity to recover their property by paying the delinquent taxes even after a sale has taken place. The absence of a redemption period after a deed of trust foreclosure highlights the more expedited process involved in securing property for lenders under these circumstances.

Such distinctions are crucial for homeowners to understand, particularly concerning their rights and options after a foreclosure event, which can vary significantly depending on the cause of the foreclosure and the method used.