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 baths
    Home size: 1,350 sq ft
    Lot size: 8,473 sqft
    Year built: 1977
    Days on market: 1
    Listed with Cannon Realty & Associates
  2. 2 beds, 2 baths
    Home size: 1,328 sq ft
    Year built: 2001
    Days on market: 1
    Listed with Keller Williams Professionals
  3. 4 beds, 2 baths
    Home size: 1,986 sq ft
    Lot size: 8,170 sqft
    Year built: 1990
    Days on market: 1
    Listed with Progress Residential Property
  4. 4 beds, 2.1 baths
    Home size: 2,608 sq ft
    Lot size: 7,978 sqft
    Year built: 1995
    Days on market: 1
    Listed with BHGRE Gary Greene
  5. 5 beds, 4.1 baths
    Home size: 4,102 sq ft
    Lot size: 12,168 sqft
    Year built: 2012
    Days on market: 1
    Listed with Keller Williams Realty The Woodlands
  6. 3 beds, 2.1 baths
    Home size: 1,932 sq ft
    Lot size: 9,200 sqft
    Year built: 1988
    Days on market: 1
    Listed with Top Guns Realty on Lake Conroe
  7. 4 beds, 2.1 baths
    Home size: 2,608 sq ft
    Lot size: 7,978 sqft
    Year built: 1995
    Days on market: 1
    Listed with BHGRE Gary Greene
  8. 3 beds, 2.1 baths
    Home size: 3,070 sq ft
    Lot size: 8,260 sqft
    Year built: 2005
    Days on market: 1
    Listed with Century 21 Realty Partners
  9. 4 beds, 3.1 baths
    Home size: 3,436 sq ft
    Lot size: 11,821 sqft
    Year built: 2011
    Days on market: 1
    Listed with Keller Williams Realty The Woodlands
  10. 4 beds, 3.1 baths
    Home size: 3,419 sq ft
    Lot size: 10,106 sqft
    Year built: 2005
    Days on market: 1
    Listed with RE/MAX The Woodlands & Spring
  11. 5 beds, 4.1 baths
    Home size: 4,441 sq ft
    Lot size: 8,614 sqft
    Year built: 2009
    Days on market: 1
    Listed with RE/MAX The Woodlands & Spring
  12. 4 beds, 3.2 baths
    Home size: 3,500 sq ft
    Lot size: 9,534 sqft
    Year built: 1991
    Days on market: 1
    Listed with Coldwell Banker United, REALTORS
  13. 3 beds, 2.1 baths
    Home size: 1,526 sq ft
    Lot size: 3,314 sqft
    Year built: 2000
    Days on market: 2
    Listed with RE/MAX The Woodlands & Spring
  14. 3 beds, 1.1 baths
    Home size: 1,512 sq ft
    Lot size: 2,199 sqft
    Year built: 1983
    Days on market: 2
    Listed with RE/MAX The Woodlands & Spring
  15. 2 beds, 2 baths
    Home size: 2,170 sq ft
    Lot size: 10,454 sqft
    Year built: 1998
    Days on market: 2
    Listed with Keller Williams Realty The Woodlands

See all The Woodlands Listings.
(all data current as of 10/19/2017)

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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