Foreclosure?
by Mortgage Rates on Friday, October 15th, 2010 | 4 Comments
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Weigh your options. Most importantly don’t make hasty decisions just because your going through a tough time and are mad at the world. Start by researching possible places to move, cost of living, possible jobs and so on. Keep in mind you’ll have to live somewhere and if you don’t have any money put back for deposits or down payments this will be very difficult. It may be easier to tough it out and see if you have any family to co-sign on your mortgage to get a better rate. This is a huge, life changing experience don’t take it lightly. I wish you the best of luck!!
All you can really do is put the house on the market and hope you can make out. It sounds like a change of pace might be good but remember that problems can follow you. You created the problems, you need to fix them. If you let the house go you will have a very hard time getting another one in the future. Take a hard look at your finances and research how to build your credit rating back up. Stop going into debt! Live as simply as you can. Take second jobs. You might think it’s impossible to refinance now but you should really be trying to get a fixed rate to get out from under the giant interest. Cut back on everything that you can and straighten out the financial mess you are in before you move. Your credit rating will follow you. This is happening all over the country. I’ve seen many foreclosures in our state. Educate yourself and work to dig back out. It might seem impossible but nothing is if you set your mind to it.
it is true that in a place with no jobs it is hard to get by. it is also true that there are a lot of other places that are growing with tons of jobs. florida, vegas come to mind. go to your bank and feel them out. and as far as small town gossip, really, you are in control of what people know about you to a large extent. it is always wise not to gossip and not to reveal personal things to others. if you move away from your family you are trading opportunity for possible lonliness.
I found how-to-buy-foreclosure.dotcom… and they had some great information. I actually bought the ebook package, learned a lot and am working on my first deal highly recommended by me. Anyone else check out this site? I enjoy ebooks cuz I can read them on my computer and everyone I get gives me a little nugget of information that is going to help me succeed. . This sites info really gave me everything I need to know… I think I can finally stop wasting my hard earned cake on seminars, books, ebooks, audio tapes on how to do foreclosure and pre-foreclosures. But check it out for yourself, hopefully it helps you like it did me.
Peace be with you