Foreclosure can be harmful not just financially but psychologically too.
Let’s face it, foreclosure has become a trend now days. Is sad for me to even mention this but statistics show our reality. I feel certain that no one is happy or satisfied by losing their home, it’s a big deal and a hit on the integrity and honor for everybody: Real estate investors, landlords and specially homeowners. So why is Foreclosure taking place? IGNORANCE.
Most people don’t know they have alternatives (to learn more about your alternatives go towww.housesbymaria.com or www.sellmyhouseflorida.net ) and the shame and frustration make them abandon their properties, or they believe that a choice for them is to give back what they no longer feel theirs (thanks to blast mailing and crazy collection calls and letters that state to turn back the property to lender ) or what its best known Deed in lieu. As my grandmother taught me “no worse that the fight that’s never done” Please read this carefully before you make any move…
I once heard that Crisis means “the turning point” of a cycle. The reality is that we as human beings are very adaptive to circumstances and environments that we encounter all for survival purposes .
When a crisis or distress situation takes place it’s a believe that the best way to proceed is avoiding as much damage as possible when resolving the matter.
How do we place this analogy in to OUR potential foreclosure situation? Following what we just mention; there are alternatives. SHORT SALE will be the best way to proceed avoiding as much damage as possible; Why? The truth is that SHORT SALE became a better way for banks, homeowners, and the real estate market to face the crisis of today.
What is a short sale: http://en.wikipedia.org/wiki/Short_sale_(real_estate)
A few years back it was easy to get a home loan. Credit standards were very wide and lax, down payments were low or nothing, proof of income was overseen and interest rates were almost nothing early in the loan life. In fact, it was so easy to get a home loan that many people bought houses that they could not afford. Then again there was IGNORANCE feed by crazy “deals” that were sale by the MEDIA, GOVERNMENT, and REAL ESTATE “professionals” with poor sense of ethics, or ignorant.
As a result, many are facing foreclosure in the “crisis of today”.
How can foreclosure be a psychological impact in your life? Well, is invariably accompanied by anxiety and stress. Damaged credit, potential homelessness, having to uproot the children from their schools and friends, and embarrassment with peers are just a few of the immediate consequences of foreclosure.
Unchecked, anxiety can lead to DEPRESSION. There is a feeling of being lost and of hopelessness. DEPRESSION can be marked by a tired feeling, both mentally and physically. Self-doubt comes from the feelings of embarrassment and disgrace. The process fuels itself. The very feeling of insecurity leads to an inability to act.
The unemployed cannot seem to get out there and find another job. This of course, only helps to make the situation worse. It becomes a downward spiral. This kind of DEPRESSION invariably requires professional medical treatment, which ironically is outside the budget for the person that has just lost his home.
Other ailments too have been observed. Among those that have lost their homes through foreclosure, there is an above average tendency towards alcoholism, drug abuse, gambling addiction, eating disorders and other self-destructive conditions. In this environment, divorce is common as is a tendency towards violence. There is a positive correlation between the increase in foreclosures and an attendant increase in domestic abuse cases.
Yes, loss of the home through foreclosure is tragic. However, there are things that can be done to reduce both the financial and the psychological effects. Take action as early as possible. It is not convenient for your lender to foreclose, and it’s not worth to lose your calm and clarity of mind. This is the moment when you need the most of brain understanding to make a decision based on information and education about what is causing this crisis and how can you resolve the matter. There are experts and government programs that can help you.
In addition, even if you are not successful in staving off foreclosure you are likely to be better prepared for the consequences. You will have more time to make plans for the future. Perhaps more important, the very actions you take early on will help you fight off the feeling of helplessness, which so often leads to anxiety and depression.
I have a very good sense of understanding when it comes to distress situations especially FINANCIAL wise, I personally come from a very humble and low income family that always worked hard to make ends meet. This is why now I became a CDPE agent (certified distress property expert) it gives me the opportunity to have a voice and help when crisis comes in to our surroundings.
FORECLOSURE vs. SHORT SALE? Is like saying:
Depression, Ignorance and Financial Distress VS. Alternative to deal with Crisis.
Remember…
“Crisis means TURNING POINT!”
Don’t let this crisis take you to a negative place. Stop being IGNORANT and educate yourself to a better path in your life.
