The hidden costs of foreclosure
Foreclosures don’t just hurt single families. They negatively impact entire communities, because every foreclosure pulls down the value of nearby properties. Houses become harder to sell. Refinancing becomes harder to get. Empty neighborhoods, or those where the majority of houses are for sale, can be perceived as blighted. Empty houses in a down economy also invite crime and vandalism. This leads to a further decline in prices and inevitably devastates the strength and stability of those communities and the families who live there. When the property tax base declines, local governments are effected in the services they provide suffer.
Arm yourself with all the facts about your mortgage, and avoid this life-altering course before it gets started. The facts you need to build your defense against foreclosure are contained in these pages.
Follow the five steps to avoiding foreclosure and protect your finances and your home.