I understand it may seem easiest to do nothing today, but having a foreclosure on your record:
● Could impact your credit for up to 10 years
● Can also impact your ability to rent and have a place to live
● May impact your ability to get a job if you need certain clearances or work in finance
I really encourage you to meet with me to see how I can help you minimize the negative impact on your future housing and career situations.
Gracie Vela 214-738-5576 Call/text gracie@velarealtygroup.com
Please reach us at gracie@velarealtygroup.com if you cannot find an answer to your question.
In general, a lender won't begin foreclosure until you've missed FOUR consecutive mortgage payments.
A foreclosure or short sale, as well as a deed in lieu of foreclosure, are all pretty similar when it comes to impacting your credit. They're all bad. But bankruptcy is worse.
Yes, if you fail to pay your HOA or COA dues, the association can usually get a lien on your home and might foreclose.
In general, mortgage companies start foreclosure processes about 3 to 6 months after the first missed mortgage payment.
Yes! there are options available. From refinancing, forbearance agreements, to a short sale. Give us a call to discuss in detail which is best for you and your family.
(214) 738-5576
Serving the DFW Metroplex
P. O. BOX 851585
Mesquite Texas 75185-1585
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