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: 2,004 sq ft
    Lot size: 6,811 sqft
    Year built: 1982
    Parking spots: 2
    Days on market: 1
    Listed with Urban Woods Realty
  2. 3 beds, 2 full baths
    Home size: 1,858 sq ft
    Lot size: 6,998 sqft
    Year built: 2010
    Parking spots: 2
    Days on market: 1
    Listed with Ineto Real Estate Services
  3. 4 beds, 2 full, 1 half baths
    Home size: 2,482 sq ft
    Lot size: 9,609 sqft
    Year built: 1990
    Parking spots: 2
    Days on market: 1
    Listed with Urban Woods Realty
  4. 4 beds, 2 full baths
    Home size: 1,922 sq ft
    Lot size: 12,204 sqft
    Year built: 1979
    Parking spots: 2
    Days on market: 1
    Listed with Keller Williams Realty Conroe
  5. 4 beds, 2 full, 1 half baths
    Home size: 2,002 sq ft
    Lot size: 7,528 sqft
    Year built: 1981
    Parking spots: 2
    Days on market: 1
    Listed with New Western Realty, LLC
  6. 4 beds, 2 full, 1 half baths
    Home size: 2,623 sq ft
    Lot size: 7,875 sqft
    Year built: 2001
    Parking spots: 2
    Days on market: 1
    Listed with Villages Group-Creekside Park
  7. 4 beds, 2 full, 1 half baths
    Home size: 2,457 sq ft
    Lot size: 10,215 sqft
    Year built: 1988
    Parking spots: 2
    Days on market: 1
    Listed with City Group
  8. 3 beds, 2 full baths
    Home size: 2,385 sq ft
    Year built: 2017
    Parking spots: 2
    Days on market: 1
    Listed with Keller Williams Realty The Woodlands
  9. 4 beds, 2 full, 1 half baths
    Home size: 2,806 sq ft
    Lot size: 13,881 sqft
    Year built: 2000
    Parking spots: 3
    Days on market: 1
    Listed with Keller Williams Realty The Woodlands
  10. 4 beds, 3 full, 1 half baths
    Home size: 2,703 sq ft
    Year built: 2017
    Parking spots: 2
    Days on market: 1
    Listed with Keller Williams Realty The Woodlands
  11. 4 beds, 2 full, 1 half baths
    Home size: 2,766 sq ft
    Lot size: 9,421 sqft
    Year built: 1991
    Parking spots: 2
    Days on market: 1
    Listed with Redfin Corporation Houston
  12. 4 beds, 2 full, 1 half baths
    Home size: 2,581 sq ft
    Lot size: 8,170 sqft
    Year built: 1992
    Parking spots: 2
    Days on market: 1
    Listed with RE/MAX Vintage
  13. 5 beds, 4 full, 1 half baths
    Home size: 3,235 sq ft
    Lot size: 7,098 sqft
    Year built: 1999
    Parking spots: 2
    Days on market: 1
    Listed with Coldwell Banker United, REALTORS
  14. 4 beds, 3 full, 1 half baths
    Home size: 3,831 sq ft
    Lot size: 19,520 sqft
    Year built: 1988
    Parking spots: 3
    Days on market: 1
    Listed with Tompkins Realty
  15. 5 beds, 3 full, 1 half baths
    Home size: 3,659 sq ft
    Lot size: 9,073 sqft
    Year built: 2006
    Parking spots: 3
    Days on market: 1
    Listed with RE/MAX The Woodlands & Spring

See all The Woodlands Listings.
(all data current as of 3/30/2017)

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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