The effects of foreclosure in San Antonio is a nightmare to any family going through it irrespective of the reasons why they are about to lose their home. Today we are going to look at the effects of foreclosures in San Antonio, Texas and what local house sellers need to know. First we will look at the effects and the ways of easing them.
Effects of Foreclosure in San Antonio to Sellers
Loss of your home – The major end result of a foreclosure in TX is of course the loss of the home to the bank. At Sell My San Antonio House, our main objective is to help you avoid this at all costs!
Decrease in Your Credit Rating – Your credit rating will be lowered by the foreclosure. How much? It depends on how high your current credit score is… but the higher your current credit score… the more your score will drop after a foreclosure. If you have a credit score of 680 or higher… you may see a drop of 100+ points. Your credit score is very important to qualify for any major purchases like your next house, a car, and some pet stores even check your credit when you want to adopt an animal! A foreclosure will prevent you from being able to get a mortgage for a house for at least 4 years. Because of the significant damage that foreclosures cause to your credit, this is why we focus on helping seller’s avoid the foreclosure process by buying their house in cash before the bank takes it back.
Depression and Stress – Your mental health is at stake because of the high pressure situation. Going through a foreclosure is emotionally exhausting and frustrating to say the least.
House Values In Your Community – Another one of the big effects of foreclosure in San Antonio, TX is that they tend to lower the overall value of the houses in your neighborhood… especially if there are multiple foreclosures in the immediate area.
How You Can Ease The Effects Of Foreclosure In San Antonio
For the well being of you and your family, you need to mitigate the effects of foreclosure as much as you can. The process can be frustrating and time consuming, but there are people who can help you navigate your different options in the process.
- Call your bank and work with them: Most banks are very willing and ready to work with you… The banks do not want to foreclosure on you! If you can, show them that with their help you can get back on track and save your house. Or, if you just want out of the house but you owe more on the house than it’s worth… see if the bank has any programs to lower the mortgage burden so you can get out from underneath it without it going through an expensive foreclosure.
- Talk with a local real estate expert, like Sell My San Antonio House: We know the local San Antonio real estate market well and are very experienced in the foreclosure process here in TX. Give us a call at (210) 201-6644 and we can guide you toward the resources that can possibly help you.
- Sell your house: If you’d rather find a way to sell your house and avoid the foreclosure all together, great! We buy local San Antonio houses for cash… and would love to look at your situation and make you a fair all-cash offer on your house. We move quickly and understand that the situation at hand is time sensitive. We can help. We can buy your house in as little as 7 days… just ask Anna. Just call us at (210) 201-6644 or fill out the form below.
With the above knowledge on foreclosure effects in San Antonio – what sellers need to know, you can avoid foreclosure by calling Sell My San Antonio House at (210) 201-6644 and we can assist you in the shortest time possible to sell your house.
We are here for you and ready to help!