Leaving Your Home and Avoiding the Stress of Foreclosure

Stress From a Foreclosure

Foreclosures overall may be down, but RealtyTrac states that thousands of homeowners will still face loss of their home and the added stress of financial struggles. Here are some of the things you can do to reduce that stress.

Forgive Yourself

Help Yourself states that one of the biggest stressors comes from the guilt that you will put on yourself. Depression and self reproach are common, and they can significantly worsen the entire situation. But the best thing you can do is identify what put you into the situation, resolve not to do those things again, forgive yourself, and move on. You do not need to add to your own burden. Additionally, failure to forgive yourself can make it more likely that you will fall into the same situation again later, particularly if you do not identify what brought you to this point. Thousands of people have had to go through foreclosure proceedings and rebuild their lives. They have done it, and you can do it too.

If you are married or have others who are depending on you, you may want to consider speaking with a counselor. US News reports that failure to address fears, concerns, resentments, and other similar issues will make any hiccups in the process work and can make success less likely. Marriages often suffer during these times, and by being proactive in protecting it, you can reduce the familial stress that will likely develop.

Consult with a Professional

Another common source of stress is lack of knowledge. Speaking with an attorney or with the service handling the foreclosure can help you better know what to expect. In some cases, such consultations may offer an alternative. Ocwen Loan Servicing, for instance, recommends that those headed toward foreclosure consider deed in lieu of foreclosure. This in turns transfers the ownership and property deed to the institution and cancels the debt, allowing for alternative solutions.

Open All Mail Immediately

One of the most common ways that things get worse during a foreclosure is if you don’t pay attention to notices. Whenever there is a change in your situation or a possible problem, contact the foreclosing institution and any other involved parties. Bear in mind that foreclosure takes a significant period of time. It can take well over a year from start to finish, and there will be multiple points of contest. You should not avoid your mail or delay any action because it is uncomfortable.

Stay Organized

Foreclosure creates a lot of paperwork, and moving creates a lot of chaos. As soon as you know your home is being foreclosed on, take steps to get everything in order. It may take longer to do the same with your finances, but if you get your paperwork together and organize your belongings for the move, it will significantly reduce the stress and strain.

There’s no doubt about it. Foreclosure and leaving your home can be difficult. But you can reduce its impact on you and your family by forgiving yourself and seeking counseling. You should also consult with a financial professional like the Van Horn Law Group or a loan servicing organization. No matter what happens, you should always make sure that you open all mail immediately and take action whenever notices arrive. You will also significantly reduce the stress if you get yourself organized and stay that way.

Ready to talk to an expert on Foreclosure in Florida? Get your free, no obligation case evaluation from Van Horn Law Group.