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: 1,565 sq ft
    Lot size: 3,244 sqft
    Year built: 2000
    Parking spots: 2
    Days on market: 1
    Listed with Keller Williams Realty The Woodlands
  2. 3 beds, 2 full, 1 half baths
    Home size: 1,587 sq ft
    Lot size: 3,091 sqft
    Year built: 2009
    Parking spots: 2
    Days on market: 1
    Listed with Keller Williams Realty The Woodlands
  3. 3 beds, 2 full, 1 half baths
    Home size: 1,577 sq ft
    Year built: 2001
    Parking spots: 2
    Days on market: 1
    Listed with Keller Williams Realty The Woodlands
  4. 3 beds, 2 full baths
    Home size: 2,147 sq ft
    Lot size: 6,668 sqft
    Year built: 1999
    Parking spots: 2
    Days on market: 1
    Listed with RE/MAX Compass
  5. 4 beds, 2 full, 1 half baths
    Home size: 2,623 sq ft
    Lot size: 14,578 sqft
    Year built: 1999
    Parking spots: 2
    Days on market: 1
    Listed with BHGRE Gary Greene
  6. 4 beds, 2 full, 1 half baths
    Home size: 2,710 sq ft
    Lot size: 7,691 sqft
    Year built: 1994
    Parking spots: 2
    Days on market: 1
    Listed with RE/MAX Legends
  7. 3 beds, 2 full baths
    Home size: 2,150 sq ft
    Lot size: 9,426 sqft
    Year built: 2012
    Parking spots: 2
    Days on market: 1
    Listed with Southern Star Properties, LLC
  8. 3 beds, 3 full, 1 half baths
    Home size: 2,388 sq ft
    Lot size: 1,887 sqft
    Year built: 2004
    Parking spots: 2
    Days on market: 1
    Listed with RE/MAX The Woodlands & Spring
  9. 3 beds, 2 full, 1 half baths
    Home size: 1,571 sq ft
    Year built: 2001
    Parking spots: 2
    Days on market: 1
    Listed with Keller Williams Realty The Woodlands
  10. 4 beds, 2 full, 1 half baths
    Home size: 2,375 sq ft
    Lot size: 8,461 sqft
    Year built: 1982
    Parking spots: 2
    Days on market: 1
    Listed with Resident Realty, Ltd
  11. 4 beds, 2 full, 1 half baths
    Home size: 2,623 sq ft
    Lot size: 14,578 sqft
    Year built: 1999
    Parking spots: 2
    Days on market: 1
    Listed with BHGRE Gary Greene
  12. 4 beds, 2 full, 1 half baths
    Home size: 2,347 sq ft
    Lot size: 7,355 sqft
    Year built: 1987
    Parking spots: 2
    Days on market: 1
    Listed with Keller Williams Realty The Woodlands
  13. 3 beds, 2 full baths
    Home size: 2,041 sq ft
    Lot size: 7,224 sqft
    Year built: 2001
    Parking spots: 2
    Days on market: 1
    Listed with BHGRE Gary Greene
  14. 4 beds, 3 full, 1 half baths
    Home size: 3,782 sq ft
    Lot size: 8,172 sqft
    Year built: 2011
    Parking spots: 3
    Days on market: 1
    Listed with RE/MAX Cinco Ranch
  15. 3 beds, 2 full, 1 half baths
    Home size: 2,705 sq ft
    Lot size: 8,055 sqft
    Year built: 2012
    Parking spots: 2
    Days on market: 1
    Listed with Keller Williams Realty Conroe

See all The Woodlands Listings.
(all data current as of 12/10/2016)

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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