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, 2.1 baths
    Home size: 1,428 sq ft
    Year built: 1983
    Days on market: 1
    Listed with RE/MAX The Woodlands & Spring
  2. 3 beds, 2 baths
    Home size: 1,972 sq ft
    Lot size: 12,481 sqft
    Year built: 1994
    Days on market: 1
    Listed with Realty Associates
  3. 3 beds, 2.1 baths
    Home size: 2,559 sq ft
    Lot size: 10,912 sqft
    Year built: 1980
    Days on market: 1
    Listed with Connect Realty.com
  4. 4 beds, 3.2 baths
    Home size: 3,919 sq ft
    Lot size: 9,456 sqft
    Year built: 1991
    Days on market: 1
    Listed with Heritage Texas Properties
  5. 4 beds, 1.2 baths
    Home size: 2,231 sq ft
    Lot size: 10,537 sqft
    Year built: 1979
    Days on market: 1
    Listed with RE/MAX The Woodlands & Spring
  6. 4 beds, 4 baths
    Home size: 3,588 sq ft
    Lot size: 8,276 sqft
    Year built: 2004
    Days on market: 1
    Listed with Keller Williams Realty The Woodlands
  7. 3 beds, 3.1 baths
    Home size: 3,606 sq ft
    Lot size: 8,919 sqft
    Year built: 2007
    Days on market: 1
    Listed with RE/MAX The Woodlands & Spring
  8. 4 beds, 4.1 baths
    Home size: 4,380 sq ft
    Lot size: 15,432 sqft
    Year built: 1993
    Days on market: 1
    Listed with Beth Ferester & Company
  9. 5 beds, 5.1 baths
    Home size: 4,979 sq ft
    Lot size: 15,476 sqft
    Year built: 2006
    Days on market: 1
    Listed with Referred Realty Group
  10. 3 beds, 2.1 baths
    Home size: 2,281 sq ft
    Lot size: 8,371 sqft
    Year built: 1993
    Days on market: 2
    Listed with BHGRE Gary Greene
  11. 3 beds, 2.1 baths
    Home size: 2,507 sq ft
    Lot size: 6,019 sqft
    Year built: 1995
    Days on market: 2
    Listed with Keller Williams Realty The Woodlands
  12. 4 beds, 2.1 baths
    Home size: 2,607 sq ft
    Lot size: 7,053 sqft
    Year built: 2006
    Days on market: 2
    Listed with Mark Dimas Properties
  13. 4 beds, 3.1 baths
    Home size: 3,246 sq ft
    Year built: 2004
    Days on market: 2
    Listed with Village Property Advisors
  14. 2 beds, 1 bath
    Home size: 1,139 sq ft
    Lot size: 5,992 sqft
    Year built: 1984
    Days on market: 2
    Listed with BHGRE Gary Greene
  15. 4 beds, 2.1 baths
    Home size: 2,056 sq ft
    Lot size: 10,940 sqft
    Year built: 1993
    Days on market: 2
    Listed with RE/MAX Space Center-Clear Lake

See all The Woodlands Listings.
(all data current as of 9/23/2017)

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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