What are some Signs of Trouble?
There are many unexpected changes to your life circumstances that can be contributing factors to foreclosure especially those that impact your finances, such as:
- Loss of employment or reduction in hours
- Major illness or injury
- Divorce or separation
- Death of a spouse
- Steep and unaffordable increase in your mortgage payment
A growing number of families struggle with excessive financial obligations—you are not alone. It is important to recognize that the way you manage your finances in one area can, and often does, spill over into other areas. Don’t be fooled into thinking your credit card problems won’t affect your mortgage. The following are warning signs of problems that can lead to foreclosure if you do not act quickly.
- Maxing out credit cards
- Relying on credit to pay for day-to-day expenses
- Being unable to pay your bills on time
- Paying only the minimum amount on credit cards
- Applying for new credit cards after reaching the credit limit on existing ones
Take Root South Florida lists Trusted Participants to help you, if you are faced with these warning signs. With their assistance, you may be able to get your finances back on track before foreclosure becomes a reality.
Protect your future! Taking action early can help you stay in your home.
If you need additional help please call 211 or visit our Trusted Participants Page which will provide you with additional resources.
%20(320x208).jpg)
