179. 4 Ways a Foreclosure Will Impact You in Dallas


Si te has preguntado ¿Dónde vender mi casa en Dallas?y si además tienes alguna deuda que necesitas cancelar lo antes posible; entonces, de seguro te estás preguntando: “¿Quién compra casas al contado en Dallas?” Pues… Nosotros que compramos casas cash en Dallas, sin importar la condición de la casa, sin pagar costos de cierre y, además, cerramos en la fecha que tú necesites. Solo tienes que llamarnos al 713-367-1881 para que veas lo fácil que puede ser 🙂        

Besides the obvious strain and emotional impact the situation can have on your family and personal relationships, foreclosure can also devastate your finances. From the clothes you wear to the car you drive, or even where you reside or work, it will have a residual effect on your life for years to come. 

Compramos Casas Texas is here to listen to you and can address any questions you may have about your specific circumstances and what you can do to avoid these ramifications. Just call 713-367-1881.

By having a better understanding of what lies ahead, you will be better equipped for taking immediate action against the negative consequences of foreclosure from the start.

Your future self will thank you for taking the time to learn more about your options during the process. We’ll cover 4 ways that a foreclosure will impact you in Dallas.

Denied 

Having a foreclosure in Dallas appear on your credit reports will cause you to be considered a bad risk. Once this appears in your credit history, it will impact your overall purchasing power. Bad credit often leads to credit applications being denied for credit cards, loans or mortgages. Any financial institution that is willing to approve consumers with bad credit usually charges exorbitant interest and annual fees that those who enjoy good credit avoid. Additionally, it could possibly be a reason you are passed over for employment opportunities. 

Financial Loss

Among the top reasons for homeownership, your equity builds up over time as your debt decreases, and Dallas property values rise. Your financial gains could be an amount in the hundreds of thousands. Equity is the difference between what your property would bring in the current market, and the amount that is still owed on the mortgage. Depending on your circumstances, a foreclosure will impact your equity either partially or in full, which could be a significant financial loss. 

Debt

By taking quick steps to resolve a pending foreclosure, you can make the decisions on how your home is sold and for how much. Open your mail before it’s too late! Keep the lines of communication open so that you can be on top of what actions your lender may be ready to take and how much time you have to change the outcome in your favor. After a foreclosure you’ll have no such control. Should your Dallas property sell for less than is still due on your mortgage, you will still be required to make payments on this debt. This is known as a deficiency debt and can have an enormous impact on your lifestyle and family. Not to mention eating into your budget. Additional liability on your credit report will only increase the higher costs associated with having bad credit.

Future Housing 

Foreclosure impacts your housing options in many ways. In general, landlords run credit checks as the first step when interviewing tenants. Naturally, your financial history will make you a higher risk and may cause you to be passed over for more desirable properties. Additionally, your choices in financing will be highly restricted should you wish to purchase another home. Fannie Mae is among the largest in the nation and offers a program with several financial benefits. Should you have gone through foreclosure and seek a mortgage lender, you should be aware that Fannie Mae will require a waiting period of 7 years before you will be eligible under their guidelines. 

Facing the possibilities of a Dallas foreclosure alone can be very stressful and inaction on your part risks your financial future. Don’t wait until foreclosure begins, let Compramos Casas Texas help lessen your burdens today. Send us a message or give us a call today at 713-367-1881.


   Estás pensando: ¿Quiero vender rápido mi casa en Dallas?… ¿Tienes una o más casas en Dallas?… Si es así, ya no busques más, nosotros podemos comprar tu casa a un precio justo, en cualquier condición y podemos cerrar el trato en tan solo 7 días o en el tiempo que necesites. Recuerda, nosotros compramos casas cash en Dallas y te damos varias alternativas para que elijas la que más te beneficie. Solo completa el siguiente formulario, para iniciar el proceso.   

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