I believe every homeowner deserves the best information and education to avoid losing a home to foreclosure and damaging credit for years to come.  Many homeowners today are facing uncertainty. They do not know what to do next for themselves and their families.  Despite all attempts to hold on, foreclosure has become a reality that if not addressed and handled correctly, it can have a devastating outcome.  Here are a few examples of how a foreclosure will affect your life.

Foreclosure is the most challenging issues against a security clearance outside of a conviction of a serious misdemeanor or felony.  If a person has a foreclosure and is a police officer, in the military, security, or any other position that requires a security clearance; the clearance could be revoked and the person will not be able to perform the duties required for the job.  On its own, a short sale does not challenge most security clearances due to the fact that short sales are not explicitly reported on a credit report.

Employers have the right and are actively checking the credit regularly of all employees who are in sensitive positions. In many cases, a foreclosure is ground for immediate reassignment and sometimes termination.  Many employers are requiring credit checks on all job applicants. A foreclosure is one of the most detrimental credit items an applicant can have and will challenge employment in most cases. Again, since a short sale is not reported on a credit report; therefore not a challenge to employment.

 Now more than ever, you need to prepare yourself to navigate the mistakes that are most commonly made. As a Certified Distressed Property Expert (CDPE), I have been specifically trained to assist homeowners in difficult situations.  If you would like more information or assistance, please contact Krista at 832-585-3035.

  1. 4 beds, 2 full, 1 half baths
    Home size: 1,978 sq ft
    Lot size: 7,730 sqft
    Year built: 1981
    Parking spots: 2
    Days on market: 1
    Listed with Houston Real Estate Group
  2. 3 beds, 2 full, 1 half baths
    Home size: 1,605 sq ft
    Lot size: 4,609 sqft
    Year built: 2003
    Parking spots: 2
    Days on market: 1
    Listed with C 4 Realty LLC.
  3. 3 beds, 2 full baths
    Home size: 1,828 sq ft
    Year built: 2007
    Parking spots: 2
    Days on market: 1
    Listed with BHGRE Gary Greene
  4. 4 beds, 3 full, 1 half baths
    Home size: 3,489 sq ft
    Lot size: 10,000 sqft
    Year built: 1994
    Parking spots: 2
    Days on market: 1
    Listed with Connect Realty.com
  5. 4 beds, 3 full, 1 half baths
    Home size: 3,434 sq ft
    Lot size: 11,330 sqft
    Year built: 1996
    Parking spots: 2
    Days on market: 1
    Listed with First Millennium Realty
  6. 3 beds, 2 full baths
    Home size: 1,424 sq ft
    Lot size: 6,947 sqft
    Year built: 1981
    Parking spots: 2
    Days on market: 1
    Listed with Parkway Realty Mary Smitherman
  7. 3 beds, 2 full baths
    Home size: 1,308 sq ft
    Lot size: 7,825 sqft
    Year built: 1981
    Parking spots: 2
    Days on market: 1
    Listed with Vox Real Estate, LLC
  8. 3 beds, 2 full, 1 half baths
    Home size: 1,701 sq ft
    Lot size: 4,482 sqft
    Year built: 2005
    Parking spots: 2
    Days on market: 1
    Listed with Boost Realty
  9. 2 beds, 2 full baths
    Home size: 1,587 sq ft
    Lot size: 5,744 sqft
    Year built: 2002
    Parking spots: 2
    Days on market: 1
    Listed with BHGRE Gary Greene
  10. 3 beds, 2 full baths
    Home size: 1,529 sq ft
    Lot size: 6,329 sqft
    Year built: 2004
    Parking spots: 2
    Days on market: 1
    Listed with Keller Williams Realty The Woodlands
  11. 3 beds, 2 full baths
    Home size: 1,671 sq ft
    Lot size: 7,874 sqft
    Year built: 1992
    Parking spots: 2
    Days on market: 1
    Listed with RE/MAX The Woodlands & Spring
  12. 3 beds, 2 full, 1 half baths
    Home size: 1,975 sq ft
    Lot size: 4,238 sqft
    Year built: 1993
    Parking spots: 2
    Days on market: 1
    Listed with Houston International Realty
  13. 3 beds, 2 full baths
    Home size: 1,936 sq ft
    Lot size: 9,902 sqft
    Year built: 1996
    Parking spots: 2
    Days on market: 1
    Listed with Keller Williams Professionals
  14. 4 beds, 2 full, 1 half baths
    Home size: 3,329 sq ft
    Lot size: 17,016 sqft
    Year built: 1976
    Parking spots: 2
    Days on market: 1
    Listed with BHGRE Gary Greene
  15. 5 beds, 3 full, 1 half baths
    Home size: 3,620 sq ft
    Lot size: 10,947 sqft
    Year built: 1992
    Parking spots: 4
    Days on market: 1
    Listed with Keller Williams Realty The Woodlands

See all The Woodlands Listings.
(all data current as of 4/24/2017)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

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Showing 2 comments
  • Shannon Register, Realtor

    The short answer is no. After 2 years, you can apply for a loan if you had a short sale on your previous home. However, with a foreclosure, it can take up to 10 years to overcome and you will always have to answer “yes” on your loan application where it questions you about ever having had a foreclosure.

    Much much better on your credit to have a short sale than a foreclosure. Feel free to call if you have any questions. We would be happy to talk to you about your options. 281.288.3500

  • Jane

    I read that after two years, you can re-apply for a loan and buy a house after foreclosure. I am wondering if this is true. What is your opinion on doing so? I also hear it can be a good time to buy because there can be more government assistance and lower rates at this stage. Below is the site I have been sourcing for this info. Looking for a second opinion. Thanks! — Jane

    http://www.homeloanacademy.com/home-loan-blog

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