Foreclosure Blunder #2: "But THEY said..."

BLUNDER #2: Thinking your friends or family know what’s best for your situation, and will give you sound advice.

Let’s say, hypothetically, you are considering the option of selling you home. You are feeling like this decision will stop the foreclosure once and for all, and allow you to make a fresh start by getting from under your debt and restructuring your payments and living situation.

But your friends and family are in an uproar over this idea. They’re on the phone or stopping by, urging you to “hang in there”.

But tell me this…
• Are they there with the money you need to stop the madness you’re caught in?
• Are they ready to step up to the plate and bail you out, no matter what it takes?
• Can they immediately send enough cash to your lender to bring the foreclosure machine to a grinding halt?

In most cases, the answer to these questions is “No.”

No matter how well-meaning they may be, they are simply not equipped to give you the kind of urgent assistance you need right now.

Remember, this is all about you, not them. This is the time to review your situation clearly, understand your options, and make an educated decision that works best for you and your family.