A foreclosure is a legal process through which a mortgagor loses his or her equitable right to redeem a mortgaged estate; in other words, the lender completely repossesses the home from the borrower (homeowner.) The lender goes through the legal motions to sell the property, terminate all the homeowner’s rights in that property, and remove the homeowner.

What are the effects?

• The most stressful and pressing effect that foreclosure has is that the borrower loses his or her place to live.
• Foreclosure negatively affects the borrower’s credit rating. It stays on a credit report for seven years and drops a credit score 250 points.
• A borrower who’s been foreclosed on may have trouble finding and keeping jobs since good credit may be required by employers to be hired.
• A foreclosed home can bring down the value of surrounding homes.

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Stephanie & Randy Kelley
The San Antonio Home Quest Team
Keller Williams Legacy
1102 East Sonterra Boulevard, Suite 106
San Antonio, TX 78258-3999
(Stephanie Direct): 210-867-8743
(Randy Direct): 210-863-2661
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Fax: 210-493-4669
(Toll Free) : 800-201-9145
sanantoniohomequest@NUMBER1EXPERT.com

Stephanie & Randy Kelley have been top San Antonio producers and leaders each year since they entered the real estate profession. They pride themselves on their ability to make the real estate buying,selling and management process as effective and trouble free as possible. Their commitment to quality customer service and satisfaction is evident and can be attested to by many happy customers and clients. Call Stephanie or Randy today!!!