Foreclosure Victims: How They Fall Prey to It.

By
Real Estate Agent with RE/MAX Preferred Realty Ltd.

Foreclosure is a tough situation for any homeowner. If you have come across a homeowner who is facing this problem, you should know that there can be a number of reasons behind this. One of the reasons behind foreclosure can be the financial stress resulting out of over expenditure or bad investments. Unemployment is another major reason behind foreclosure as it becomes tough for an unemployed person to make his mortgage payments.

Among other reasons, divorce and separation can be some. As one partner moves out of the house, it becomes very difficult for the other one to bear the burden of making mortgage payments single handedly, as it might have been a joint payment earlier. In families where a death has taken place, that family can also easily fall prey to foreclosure if the person who has passed away might have been the only earning member of the family.

Homeowners who face foreclosure in a bid to avoid stress choose the option of moving out. Some takes up the courage needed to fight with the situation by looking out for some kind of settlement with the lender, by selling their property or even refinancing it. It is always better for a homeowner to let the lender know that he is unable to make the payments.




AddThis Feed Button Bookmark and Share
close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the camera to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Tags:
foreclosure
victims
unemployment
avoid stress
settlement
payments
windsor
canada

Comments 8 New Comment

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the balloons to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Rainmaker
43,189
Vanessa V. Simmons
Realtor
Real Living HER

Thanks for posting this.  I think we have to keep reminding folks that not everyone purposely got into homes that could not afford.  There are the real stories....Nice Post

March 07, 2009 08:44 AM
Rainmaker
68,401
Valerie Springer
Home Loan Officer AL, FHA, VA, Conventional and Re
Benchmark Mortgage nmls 2143

Great post, there are many that are in bad circumstances today because of something beyond their control.  It is so terrible to lose someone you love so much and have the added pressure of losing your home as well.  Great reminder for compassion.

May 05, 2009 02:43 PM
Rainmaker
633,045
Cindy Bryant
"Houston Home Staging Pro's"
Redesign Etc. Home Staging

I'm starting to see more foreclosures, unfortunately they are trashing the house before they leave.

May 08, 2009 11:49 PM
Rainmaker
284,552
Marilyn Harrell
Wixom Lake - Beaverton MI
ReMax Riverhaven

So many ways to lose your home - In our rural area, very few foreclosures are due to the "Overspending - HAD TO HAVE NOW" theory I hear of. It's mostly job loss, divorce and some of the other situations that you mention including loss of health, injury and medical bills as well.

Bad things happen to good people....

June 26, 2009 07:49 AM
Rainmaker
73,810
Barbara Hershey
Realtor, Maine Real Estate

I've seen a lot of people who are too proud or embarrassed to let their lenders know that they're having trouble. And I've seen a lot of people who kept in constant contact with their lenders, but were ignored or made to feel worthless. Sad stories either way....

October 31, 2009 08:37 PM
Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the world to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Rainer
153,983

Sasha Miletic - Windsor Real Estate

Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the world to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Additional Information

Marketing Your Home For All It's Worth In Windsor and Essex County


Locations of visitors to this page

Page copy protected against web site content infringement by Copyscape

View Sasha Miletic's profile on LinkedIn

I heart FeedBurner

Subscribe To Our Feed

 Subscribe in a reader

Add to Google Reader or Homepage

Subscribe in NewsGator Online

Add to My AOL

Add to netvibes

Subscribe in Bloglines

Add to The Free Dictionary

Add to Plusmo

Subscribe in NewsAlloy

Add to Excite MIX

Add to netomat Hub

Add to fwicki

Add to flurry

Add to Webwag

Add to Attensa

Receive IM, Email or Mobile alerts when new content is published on this site.

Add Sasha Miletic - Windsor Real Estate to ODEO

Subscribe in podnova

Add to Pageflakes

Subscribe to Sasha Miletic - Windsor Real Estate


AddThis Feed Button

Spread The Word


Bookmark and Share

Add to Technorati Favorites


Directory of Real Estate Blogs



stop web pollution