In an earlier post on foreclosures in Houston neighborhoods, I discussed how foreclosures had seen an increase in the Houston real estate market. Although not at the alarming rate seen in other cities. Still, they do exist and they effect a wide variety of Houston home prices. It seems no Houston neighborhood is immune. So what is a Houston homeowner to do if your finances begin to get out of control or you can no longer make their house payments. If you are in this predicament, here are some valuable tips to consider!
Based on my previous post here at the Houston Fine Homes Community real estate blog, you already know foreclosures are now a reality in our Houston real estate market. The impact of foreclosure properties has been minimal to date. It remains to seen how these properties will impact future sales.
While we all know the Houston real estate market has not been riddled by a massive amounts of foreclosure properties like the states of Florida, Nevada, Arizona and California. Every real estate market experiences its fair share of foreclosures and short sales and the Houston real estate market is no exception.
For many consumers just the mention of the “F” word, “foreclosure” and a wave of emotions and fears come to the heart and mind. And rightfully so! Frankly, I find there is a tremendous amount of misinformation in the market place about foreclosures. I also find there is a general lack of understanding and knowledge about the often used terms associated with foreclosure. Hence the reason for writing this post.