Life
Putting the trauma of foreclosure behind you
Friday, December 16, 2011
New African American home-owners.PHOTO/File
Many homeowners experience foreclosure as the end of a long, tumultuous process—oftentimes beginning with a job loss. They fall behind on their mortgage payments, perhaps make unsuccessful attempts at a government-assisted loan modification, and then finally accept that foreclosure is inevitable.
If you’re on the verge of a foreclosure, there are a few things you can do before, during, and after the process to help ease some of the pain:
1) Get a roof over your head. Before your mortgage holder confiscates your home, locate and secure affordable rental housing. This will help ease the transition, especially for any children involved.
Continue Reading