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. 4 beds, 2 baths
    Home size: 1,967 sq ft
    Lot size: 7,710 sqft
    Year built: 2007
    Days on market: 1
    Listed with RE/MAX The Woodlands & Spring
  2. 4 beds, 2.1 baths
    Home size: 3,087 sq ft
    Lot size: 9,801 sqft
    Year built: 2012
    Days on market: 1
    Listed with RE/MAX The Woodlands & Spring
  3. 2 beds, 3 baths
    Home size: 2,582 sq ft
    Lot size: 8,241 sqft
    Year built: 1998
    Days on market: 1
    Listed with Creekview Realty
  4. 4 beds, 4.1 baths
    Home size: 3,738 sq ft
    Lot size: 13,503 sqft
    Year built: 2018
    Days on market: 1
    Listed with Coldwell Banker United,
  5. 4 beds, 3.1 baths
    Home size: 3,278 sq ft
    Lot size: 12,646 sqft
    Year built: 1992
    Days on market: 1
    Listed with Reside Residential TX
  6. 3 beds, 3.1 baths
    Home size: 2,439 sq ft
    Lot size: 2,600 sqft
    Year built: 2012
    Days on market: 1
    Listed with RE/MAX Carlton Woods Sales
  7. 3 beds, 1.1 baths
    Home size: 1,208 sq ft
    Lot size: 6,102 sqft
    Year built: 1977
    Days on market: 2
    Listed with Coldwell Banker United,
  8. 3 beds, 2.1 baths
    Home size: 1,559 sq ft
    Lot size: 2,395 sqft
    Year built: 1997
    Days on market: 2
    Listed with Coldwell Banker United,
  9. 2 beds, 2 baths
    Home size: 1,365 sq ft
    Lot size: 7,113 sqft
    Year built: 1983
    Days on market: 2
    Listed with RE/MAX The Woodlands & Spring
  10. 3 beds, 2.1 baths
    Home size: 2,696 sq ft
    Lot size: 6,809 sqft
    Year built: 1998
    Days on market: 2
    Listed with First Millennium Realty
  11. 3 beds, 2.1 baths
    Home size: 2,090 sq ft
    Lot size: 6,560 sqft
    Year built: 1980
    Days on market: 2
    Listed with Realty ONE Group-Lone Star
  12. 3 beds, 2 baths
    Home size: 2,204 sq ft
    Year built: 2017
    Days on market: 2
    Listed with Keller Williams Realty
  13. 3 beds, 2 baths
    Home size: 2,576 sq ft
    Year built: 2018
    Days on market: 2
    Listed with Pulte Homes
  14. 5 beds, 4 baths
    Home size: 3,908 sq ft
    Lot size: 17,077 sqft
    Year built: 2006
    Days on market: 2
    Listed with RE/MAX The Woodlands & Spring
  15. 3 beds, 3.1 baths
    Home size: 3,100 sq ft
    Lot size: 1,556 sqft
    Year built: 2006
    Days on market: 2
    Listed with RE/MAX The Woodlands & Spring

See all The Woodlands Listings.
(all data current as of 1/17/2018)

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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