If you’re reading this, there is a chance that you’re frustrated and perhaps frightened by the fact that you are struggling financially and could lose your home to foreclosure. The fear is not unfounded – one in every 662 Florida homes is foreclosed upon every year, according to data reported by RealtyTrac. Instead of risking the damage that a foreclosure can cause to your credit history, seek out assistance in securing a short sale of your home.
Foreclosures generally occur after homeowners struggle for months to catch up on mortgage payments. Whether it’s a medical emergency, divorce, job loss or other circumstances that cause a financial crisis, it happens too often. The mortgage company is blind to the reasons you are struggling. What they do see is how long you’ve failed to pay you're monthly bill, and they will take action against you.