Advice?

[EugenS]

What would your advice be for someone in debt, struggling with the mortgage, and fearing of havin his home foreclosed? What can he possibly do to keep his house?

[Offplanpropertyexchange]

Definately take professional advice, speak to the mortgage provider and any other person that they owe money to and start to take control. There are plently on things that you can do and it might not be as bleak as it appears and the stress of it will ease if you are doing something about it.

[EugenS]

It's a psychological fact, inaction leads to depression. And if you get depressed, then you can't work out your problems.

[Henry]

Youre dead right there, I guess thats when you need your friends to be watching out for you.

If you have got financial problems you should try to talk to someone lets face it youre not aloe in the current credit crunch.

[EugenS]

Thanks Henry, it's not about me, I was interested in a discussion about it. I see people giving up to despair, all around me, and we need to help them somehow, to understand them.

[mandiees]

People need to remember that a foreclosure is not the end of the world. There are many opportunities to rebuild credit, and unfortunately right now is a volatile time for the market and many people are feeling the pinch. If you can not afford your mortgage, be honest with your lender and see if they are willing to work with you. If not, you may want to walk,instead of paying smaller payments that are not ultimately going to allow you to stay in the house for any longer. There are many options - short sale, adjustments - but sitting around and being depressed is not helping anyone.

[DianaR]

There may be government programs that can help you with your mortgage issues. I suggest starting there before exploring options involving private debt management companies.