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Galveston Legal Issues Blog

How foreclosure works in Texas

Most people do not have a couple hundred thousand dollars laying around, so when they want to buy a home, they must rely on a mortgage. A mortgage is a loan that is provided by the lender in exchange for the homebuyer's promise to keep making loan payments.

The catch with mortgage loans is that the homeowner doesn't actually own the home, the mortgage lender does. That means if the homeowner stops making monthly mortgage payments, as promised, the lender has the right to repossess the home. This process is known as foreclosure.

The four biggest myths about filing for bankruptcy

Most people have heard about bankruptcy, but few actually understand what it means. This has led to numerous myths being passed around about the bankruptcy process and how it affects people who file. Today we are going to tackle four of the most common myths that our firm hears.

Myth No 1: Filing for bankruptcy ruins credit scores.

It's important to know that while a bankruptcy can remain on your credit report for 10 years, that does not mean that you will have poor credit during that entire time. Your credit, or your ability to borrow, will likely increase after filing for bankruptcy because you will no longer be struggling to pay bills that you cannot afford.

For the most part, you have control over building up your credit after bankruptcy, and it can often be repaired within a few years of the date your debts are discharged.

Mediating unexpected medical bills under new Texas law

Waking up in an emergency room and finding out that you've been in an accident can be a shock. Getting the medical bill for the care you have received can be just as shocking -- even if you have health insurance.

Medical bills have added insult to injury for many patients who were unknowingly treated by physicians who are outside of their insurance carriers' networks, sometimes at hospitals that were within their networks.

Undoubtedly, this is an extremely frustrating situation to be in, and Texas residents told state lawmakers their stories. In response, the legislature passed a law that makes it possible to challenge the bills through mediation.

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