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: 1,320 sq ft
    Lot size: 9,869 sqft
    Year built: 1977
    Days on market: 1
    Listed with Colony Starwood Homes Mgmt LLC
  2. 3 beds, 2 baths
    Home size: 1,568 sq ft
    Lot size: 10,354 sqft
    Year built: 1980
    Days on market: 1
    Listed with Keller Williams Realty The Woodlands
  3. 3 beds, 2 baths
    Home size: 1,983 sq ft
    Lot size: 15,131 sqft
    Year built: 2001
    Days on market: 1
    Listed with Walzel Properties
  4. 3 beds, 2 baths
    Home size: 2,151 sq ft
    Lot size: 9,012 sqft
    Year built: 1990
    Days on market: 1
    Listed with Ineto Real Estate Services
  5. 4 beds, 2 baths
    Home size: 2,530 sq ft
    Lot size: 9,836 sqft
    Year built: 1997
    Days on market: 1
    Listed with Progress Residential Property
  6. 4 beds, 2 baths
    Home size: 2,133 sq ft
    Lot size: 8,495 sqft
    Year built: 2002
    Days on market: 1
    Listed with Keller Williams Premier Realty
  7. 3 beds, 2 baths
    Home size: 1,964 sq ft
    Lot size: 4,315 sqft
    Year built: 2011
    Days on market: 1
    Listed with Keller Williams Realty The Woodlands
  8. 4 beds, 2 baths
    Home size: 1,976 sq ft
    Lot size: 6,880 sqft
    Year built: 1995
    Days on market: 1
    Listed with Coldwell Banker United, REALTORS
  9. 2 beds, 2 baths
    Home size: 2,170 sq ft
    Lot size: 10,454 sqft
    Year built: 1998
    Days on market: 1
    Listed with Keller Williams Realty The Woodlands
  10. 3 beds, 2 baths
    Home size: 2,326 sq ft
    Lot size: 6,063 sqft
    Year built: 1997
    Days on market: 1
    Listed with RE/MAX The Woodlands & Spring
  11. 4 beds, 2 baths
    Home size: 2,570 sq ft
    Lot size: 9,250 sqft
    Year built: 1987
    Days on market: 1
    Listed with Heritage Texas Properties
  12. 3 beds, 2 baths
    Home size: 2,022 sq ft
    Lot size: 2,471 sqft
    Year built: 2015
    Days on market: 1
    Listed with Keller Williams Realty The Woodlands
  13. 4 beds, 3 baths
    Home size: 2,931 sq ft
    Lot size: 10,558 sqft
    Year built: 1991
    Days on market: 1
    Listed with Zarco Properties, LLC
  14. 3 beds, 2 baths
    Home size: 2,441 sq ft
    Lot size: 5,147 sqft
    Year built: 1980
    Days on market: 1
    Listed with RE/MAX The Woodlands & Spring
  15. 3 beds, 4 baths
    Home size: 3,348 sq ft
    Lot size: 7,724 sqft
    Year built: 2010
    Days on market: 1
    Listed with Century 21 Hardee-Team Realty

See all The Woodlands Listings.
(all data current as of 7/25/2017)

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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