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. 2 beds, 2 full baths
    Home size: 1,106 sq ft
    Year built: 1983
    Days on market: 1
    Listed with Cagle Realty
  2. 3 beds, 2 full, 1 half baths
    Home size: 1,600 sq ft
    Lot size: 2,671 sqft
    Year built: 2009
    Parking spots: 2
    Days on market: 1
    Listed with BHGRE Gary Greene
  3. 4 beds, 2 full, 1 half baths
    Home size: 2,689 sq ft
    Lot size: 11,199 sqft
    Year built: 1981
    Parking spots: 2
    Days on market: 1
    Listed with Heritage Texas Properties
  4. 5 beds, 4 full, 1 half baths
    Home size: 3,860 sq ft
    Lot size: 14,187 sqft
    Year built: 2004
    Parking spots: 3
    Days on market: 1
    Listed with RE/MAX The Woodlands & Spring
  5. 3 beds, 2 full baths
    Home size: 1,562 sq ft
    Lot size: 8,604 sqft
    Year built: 1975
    Parking spots: 2
    Days on market: 1
    Listed with Ideal Realty
  6. 3 beds, 2 full, 1 half baths
    Home size: 1,906 sq ft
    Lot size: 9,672 sqft
    Year built: 1981
    Parking spots: 2
    Days on market: 1
    Listed with BHGRE Gary Greene
  7. 5 beds, 4 full, 1 half baths
    Home size: 4,251 sq ft
    Lot size: 13,326 sqft
    Year built: 2009
    Days on market: 1
    Listed with RE/MAX The Woodlands & Spring
  8. 5 beds, 3 full, 1 half baths
    Home size: 4,246 sq ft
    Lot size: 12,562 sqft
    Year built: 2006
    Parking spots: 3
    Days on market: 1
    Listed with RE/MAX The Woodlands & Spring
  9. 5 beds, 5 full, 1 half baths
    Home size: 5,295 sq ft
    Lot size: 14,262 sqft
    Year built: 2009
    Parking spots: 3
    Days on market: 1
    Listed with Keller Williams Realty The Woodlands
  10. 0 beds, 0 baths
    Lot size: 35,553 sqft
    Days on market: 1
    Listed with Connect Realty.com
  11. 5 beds, 5 full, 1 half baths
    Home size: 6,384 sq ft
    Lot size: 36,975 sqft
    Year built: 1998
    Parking spots: 4
    Days on market: 1
    Listed with Keller Williams Realty The Woodlands
  12. 1 bed, 1 full bath
    Home size: 644 sq ft
    Year built: 1982
    Days on market: 2
    Listed with Century 21 Realty Partners
  13. 3 beds, 2 full, 1 half baths
    Home size: 1,628 sq ft
    Lot size: 2,520 sqft
    Year built: 1999
    Parking spots: 2
    Days on market: 2
    Listed with BHGRE Gary Greene
  14. 3 beds, 2 full baths
    Home size: 1,624 sq ft
    Year built: 1995
    Parking spots: 2
    Days on market: 2
    Listed with RE/MAX The Woodlands & Spring
  15. 3 beds, 2 full, 1 half baths
    Home size: 2,192 sq ft
    Year built: 2007
    Parking spots: 2
    Days on market: 2
    Listed with RE/MAX Carlton Woods Sales

See all The Woodlands Listings.
(all data current as of 2/21/2017)

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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