Financial Stress
“Stress is an ignorant state. It believes that everything is
an emergency.”
- Natalie Goldberg
If you're in trouble with your mortgage, you're probably aware
of it, but it's likely that you’re not doing much to make it
better. Some repress or ignore that they cannot meet their monthly
mortgage obligation. Others agonize and worry to the point of
depression. Surveys show that homeowners fail to contact their
lender because they are embarrassed, don’t believe the lender
can help, and/or believe it would cause them to lose their home
more quickly. The truth is that doing nothing will only cause
the problem to get worse. Mortgage Modification Group steps in
to get the ball rolling towards open communication and resolution
of your mortgage problems.
Legitimate Hardships
Homeowners experience hardship for all kinds of reasons. 32%
experience a job loss. 25% experience a health crisis. Most have
no savings, no available credit, and their extended families
have limited resources. Homeowners in danger may have already
refinanced two or three times. It is time to get your financial
life back in order. No matter the basis for your financial hardship,
your lender is likely to work with you to reach an alternative
to foreclosure.
Spending Beyond Your Means
We live in a society that is drowning in debt. Debt has become
a way of life. 43% of American households spend more than they
earn each year. 52% of employees live paycheck to paycheck. Nearly
42% of all American households do not have enough in liquid financial
assets to support themselves for at least three months. 46% of
American households have less than $5,000 in liquid assets, including
IRAs.
We are encouraged to spend beyond our means by an economic system
that is fueled by debt. Inevitably, we give into temptation and
take advantage of the numerous opportunities that are provided.
There are times when debt is incurred for justifiable purposes.
But too often, with the help of the system, we become indebted
due to our own greed and ignorance. It’s time to take control
of excessive spending and focus on your priorities. Eliminate
unnecessary spending and reach out for help. Taking action right
away can help you protect your family from the loss of your home.
Warning Signs
Many of us are simply in denial and won't acknowledge or recognize
that there's a problem. Well, if you're not convinced that you
have a problem, go down the list of financial danger signs. If
one of these danger signs applies to you, chances are, several
do.
* You received a foreclosure notice.
* You’re not sure how much you currently owe.
* Your lender is being uncooperative.
* You're supplementing monthly income with money from your savings.
* You're using credit cards to pay basic living expenses.
