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Financial forecasters are reporting the recession is over, but the relief hasn’t reached the homes of everyday people yet. A radio commentator mentioned recently that we need to brace ourselves because there will be another wave of foreclosures due to interest rates that are scheduled to reset in the next coming months.
If you are in that situation, there is something you can do.
Do Something
Doing nothing to save your home is the worst mistake you can make. The pressure of facing foreclosure can push you into closing your eyes and letting the foreclosure process run it’s course. Saving your home from foreclosure should be your top priority, don’t ignore it.
Take action now
If you’re in financial trouble and can’t pay your mortgage, don’t wait to call or go get help. There are program and resources that are available to help you save your home. Contact a local non profit or government affiliated agency whose objective is to help homeowners at risk. The sooner you call, the sooner they’ll be able to help you—or at least steer you in the right direction.
Proceed with caution: When we are in faced with financial difficulties we become desperate which results in making bad choices. If you do not remember anything else from this lesson today.
