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. 3 beds, 2 full, 1 half baths
    Home size: 2,142 sq ft
    Lot size: 5,500 sqft
    Year built: 1978
    Parking spots: 2
    Days on market: 1
    Listed with Keller Williams Realty Conroe
  2. 3 beds, 2 full, 1 half baths
    Home size: 2,284 sq ft
    Lot size: 11,710 sqft
    Year built: 2004
    Parking spots: 2
    Days on market: 1
    Listed with D&R Real Estate
  3. 3 beds, 2 full baths
    Home size: 1,040 sq ft
    Lot size: 5,936 sqft
    Year built: 1982
    Parking spots: 2
    Days on market: 2
    Listed with The Professional Landlords
  4. 3 beds, 2 full, 1 half baths
    Home size: 1,526 sq ft
    Lot size: 2,380 sqft
    Year built: 2000
    Parking spots: 2
    Days on market: 2
    Listed with Realty ONE Group, Experience
  5. 4 beds, 2 full, 1 half baths
    Home size: 2,002 sq ft
    Lot size: 6,513 sqft
    Year built: 1981
    Parking spots: 2
    Days on market: 2
    Listed with Zarco Properties, LLC
  6. 4 beds, 2 full, 1 half baths
    Home size: 2,514 sq ft
    Lot size: 7,404 sqft
    Year built: 1983
    Parking spots: 2
    Days on market: 2
    Listed with Winhill Advisors - Kirby
  7. 3 beds, 2 full, 1 half baths
    Home size: 1,748 sq ft
    Year built: 2002
    Parking spots: 2
    Days on market: 2
    Listed with BHGRE Gary Greene
  8. 3 beds, 2 full, 1 half baths
    Home size: 1,627 sq ft
    Lot size: 2,970 sqft
    Year built: 2008
    Parking spots: 2
    Days on market: 2
    Listed with Keller Williams Realty The Woodlands
  9. 5 beds, 2 full, 1 half baths
    Home size: 2,508 sq ft
    Lot size: 8,561 sqft
    Year built: 1982
    Parking spots: 2
    Days on market: 2
    Listed with RE/MAX The Woodlands & Spring
  10. 3 beds, 2 full baths
    Home size: 1,993 sq ft
    Lot size: 10,402 sqft
    Year built: 1999
    Parking spots: 2
    Days on market: 2
    Listed with Keller Williams Realty The Woodlands
  11. 4 beds, 2 full, 1 half baths
    Home size: 2,456 sq ft
    Lot size: 7,421 sqft
    Year built: 1995
    Parking spots: 2
    Days on market: 2
    Listed with Connect Realty.com
  12. 3 beds, 2 full baths
    Home size: 1,898 sq ft
    Lot size: 8,482 sqft
    Year built: 1981
    Parking spots: 2
    Days on market: 2
    Listed with Keller Williams Realty The Woodlands
  13. 4 beds, 2 full, 1 half baths
    Home size: 2,864 sq ft
    Lot size: 7,480 sqft
    Year built: 1998
    Parking spots: 2
    Days on market: 2
    Listed with Keller Williams Realty The Woodlands
  14. 4 beds, 3 full, 1 half baths
    Home size: 2,898 sq ft
    Lot size: 6,624 sqft
    Year built: 2006
    Parking spots: 2
    Days on market: 2
    Listed with Zarco Properties, LLC
  15. 3 beds, 2 full, 1 half baths
    Home size: 1,526 sq ft
    Lot size: 2,380 sqft
    Year built: 2000
    Parking spots: 2
    Days on market: 2
    Listed with Realty ONE Group, Experience

See all The Woodlands Listings.
(all data current as of 1/21/2017)

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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