Yesterday reports hit the news about the growing number of U.S. mortgage foreclosures for this year. \u00a0It is frightening to know that we are on track to foreclose on more than 1,000,000 houses this year(2010). \u00a0So far this year, over 528,000 families have been affected. \u00a0Even more frightening is that there were 900,000 affected in 2009. \u00a0I will not cite an article here. \u00a0The stories are in any newspaper or website that reports real news.<\/p>\n
It is a tough fight when you fall behind on you mortgage. \u00a0Many are realizing that now and are trying to salvage the house they have lived and invested in for what may be years.<\/p>\n
Just this past week, WXIA, channel 11 in Atlanta reported that foreclosures are now hitting the “rich”. \u00a0The number of million dollar homes being foreclosed on has increased and it led that station to report that the recession and foreclosure problem has now hit the “rich”. \u00a0I will not write about it here, but living in a million dollar plus home does not make you rich. \u00a0It may make you a lot of things, but it is not necessarily rich.<\/p>\n
Are you affected? \u00a0Are you feeling that you may be soon? \u00a0If you are, stop and focus on the four areas you need to maintain focus on in times of financial crisis – mortgage(rent), utilities, transportation and rent. \u00a0Those four areas should be you primary financial fight. \u00a0Everything else should be prioritized based upon true NEED and paid for ONLY when those things can be afforded. \u00a0That may mean no one gets a birthday gift (they will survive), your hair does not get “done” every month, you are not buying new clothes just “because” and you may miss some credit card payments. \u00a0FOCUS on the four items of survival.<\/p>\n
For those of you in trouble or feeling you may be headed to trouble – contact your mortgage company for assistance. \u00a0They may be able to creatively assist you to weather the storm or you may qualify for a mortgage loan modification. \u00a0It never hurts to ask and get the help you need before you get a notice of “sale”.<\/p>\n","protected":false},"excerpt":{"rendered":"
Yesterday reports hit the news about the growing number of U.S. mortgage foreclosures for this year. \u00a0It is frightening to know that we are on track to foreclose on more than 1,000,000 houses this year(2010). \u00a0So far this year, over 528,000 families have been affected. \u00a0Even more frightening is that there were 900,000 affected in […]<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20,3,17],"tags":[],"class_list":["post-284","post","type-post","status-publish","format-standard","hentry","category-banking","category-coaching","category-mortgage"],"yoast_head":"\n