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So Your Home Is in Foreclosure - What Now?

Posted: 08/07/2013 12:06 pm

If you find yourself in a foreclosure situation, emotions will overtake you, so it's critical that you deal with them in order to keep a clear head and survive the trauma. Most, if not all, of your emotions will be negative in nature and none will help you get out of the hole you are in. Furthermore, none will help you find good ideas to solve your impending foreclosure.

Your emotions play a vital role in dealing with life's ups and downs. It is the engine that moves your body into action, and if you are in peril of losing your home in a foreclosure, you will probably experience a great deal of anger, fear, anxiety and shame.

Anger may emerge first, and many times the anger that is bottled up inside of us bubbles up and explodes. When this happens, innocent bystanders suffer the consequences. Unfortunately, more often than not, we take out this anger out on our loved ones, especially our spouse and children. Before you explode or direct your anger at them, consider that they are as scared as you are. Don't take out your frustrations on them; your financial woes are not their fault.

Overcoming anger

Many years ago, a corporate lawyer told me that in his personal and professional experience, someone who loses his temper is usually very afraid. My advice to you is that before you explode in anger, stop for a moment and consider what is making you afraid. If you can figure out what is making you afraid and you deal with that fear, your anger will go away. Consider this statement and try to incorporate it into your daily life. If you can stop and identify what is frightening you, you can deal with it in a composed manner.

Overcoming fear and anxiety

Fear is defined as "a distressing emotion aroused by impending danger, evil, pain, etc. whether the threat is real or imagined." This emotion does not originate with fear itself, but with worry.

When you begin to realize how bad your financial situation is, you begin to worry. To worsen the situation you begin to receive letters from your creditors demanding payment and disconnection notices from your utility company, and to top it all off, you begin to receive abusive and threatening calls from collection agencies. All of these calls and/or letters serve as a permanent reminder of your poor financial situation.

When fear dominates your emotions for a prolonged period of time, it will produce anxiety. Anxiety will produce depression and depression will lead to numerous mental and physical issues.

Many people today suffer from anxiety and depression, and doctors numb them with drugs. However, drugs will never solve your problem. When external circumstances have caused your depression, consider the root of your anger and the fear associated with it. Deal with that fear and be released from your anxiety.

Fear is a destructive emotion that produces a negative vibration. How do you move out of this? The best way is to focus on the solution to the problem rather than the problem itself. Otherwise, you will only attract more problems. If instead you dedicate all your attention to finding a solution, ideas will begin to appear naturally. By focusing your conscious attention on the solution, you will move out of the negative vibration and into a positive vibration, and you will find a solution.

Overcoming blame and guilt

Whenever we experience a negative event in our lives, by nature we try to find someone to blame. Blaming someone or something will never help you solve your current problem, even though blame may be fully justified. Blame will not help you deal with the real issue. While you are spending all of your time playing the blame game, the foreclosure clock is ticking. If you do not take any countermeasures, you will end up losing your home. Failure to take action is one of the main reasons that people lose their home to foreclosure.

Guilt and blame are closely related. While blame is anger or resentment directed at someone else, guilt is anger directed at ourselves. In our personal lives, we all have done things in the past that we are not proud of and that we may be ashamed to admit. You must learn to forgive yourself; neither you nor I can change the past -- and it is time to let it go.

It's best to avoid any thoughts or feelings of guilt and blame. As soon as your thoughts begin to drift into blaming someone, quickly discard them and start to consider solutions instead. It does not matter who is to blame; what matters now is that you only entertain thoughts that will help you solve your problem.

Overcoming shame

Shame is another negative and paralyzing emotion, and probably the biggest obstruction to finding a solution to your financial problems. It causes you to hide the problem from the people who may have the ability to help.

When we are experiencing financial challenges, we hide this information, perhaps even from our spouse. Once the truth comes out and your true financial status is exposed, it may be too late for any financial assistance that a family member and/or friend could have offered.

What your friends and family say about or think of you should be the least of your worries. Yes, there's shame in having to admit that you may lose your house in a foreclosure. However, you have nothing to gain and a lot to lose by hiding your financial situation. You know who your friends are, you know who in your family you can trust, and who has the ability to help you. Talk to them, seek help, get beyond shame and you may be happily surprised at the outcome.

You are well able to defend your home from foreclosure, but first you must take control of your emotions. And you will survive!

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  • Mom Evicted On Mother's Day

    After she and her husband were allegedly duped into a bad loan, California mom Sheri Prizant faced the possibility of being evicted from her home on Mother's Day, <a href="http://www.huffingtonpost.com/2012/05/11/sheri-prizant-eviction-mothers-day_n_1507681.html?1336741860" target="_hplink">MSNBC</a> reports.

  • Columbine Shooting Survivor Fighting Foreclosure With Occupy LA's Help

    Richard Castaldo survived the shooting at Columbine High School 13 years ago and now he is fighting to <a href="http://www.huffingtonpost.com/2012/11/27/richard-castaldo-columbine-foreclosure-occupy-la_n_2198146.html?utm_hp_ref=business" target="_hplink">rescue his home from foreclosure</a>. The people of Occupy Los Angeles are helping Castaldo and others like him to save their homes.

  • USDA Forecloses On 78-Year-Old Cancer Patient

    The USDA foreclosed on 78-year-old Texas resident Alicia Ramirez, reportedly <a href="http://www.huffingtonpost.com/2012/08/06/alicia-ramirez-cancer-eviction_n_1747933.html?utm_hp_ref=business" target="_hplink">after she was diagnosed with cancer.</a> While the USDA has thus far allowed Ramirez to remain in her home, a court order evicting the senior citizen could be issued at any time.

  • Foreclosure Victims Lose Belongings After Free Yard Sale Goes Wrong

    The Vercher family of Woodstock, Georgia, offered to give away a <a href="http://www.huffingtonpost.com/2012/10/25/vercher-family-woodstock-craigslist-foreclosed_n_2017738.html?1351188857" target="_hplink">number of household items in a Craigslist ad</a> after their house was foreclosed on. Instead, they ended up losing nearly all of their belongings when people began taking items from inside the house.

  • Wells Fargo Offers Cancer Patient 'Assistance' Then Forecloses

    Terminal breast cancer patient Cindi Davis could no longer keep up with her mortgage payments due to the cost of her medical bills. Faced with media scrutiny, her lender <a href="http://www.huffingtonpost.com/2012/09/14/wells-fargo-forecloses-cancer-patient-cindi-davis_n_1883956.html?1347635836" target="_hplink">Wells Fargo told a local radio station it was seeking "assistance"</a> for Davis just weeks before setting the date to auction her home for December 19th, 2012.

  • Coca-Cola Heirs Lose $37.5 Million To Foreclosure

    Descendants of Coca-Cola founder Asa Candler have been hit hard by the housing bust with their <a href="http://www.huffingtonpost.com/2012/09/17/candler-family-foreclosure-losses_n_1890911.html?1347906436" target="_hplink">real estate development company losing $37.5 million to foreclosure since the Great Recession began</a>. (Pictured: the former mansion of Coca-Cola heir Asa Griggs "Buddy" Candler, Jr.)

  • CT Family Never Missed A Payment

    Shock Baitch and his wife Lisa of Connecticut <a href="http://www.huffingtonpost.com/2010/12/30/bank-of-america-foreclosure_n_802861.html" target="_hplink">were threatened with foreclosure by Bank of America</a> after never missing a payment. BofA mistakenly told credit agencies they were seeking a loan modification. "Now I am literally and financially paying for it," Baitch told <a href="http://ctwatchdog.com/finance/bank-of-americas-christmas-present-foreclose-even-though-not-a-payment-missed" target="_hplink">CTWatchdog.com</a>.

  • Man Gets Free Home After Lender Shutdown

    Facing foreclosure, Perry Laspina of Jacksonville, Florida ended up with a home practically for free after his mortgage lender was shut down by parent company Wells Fargo, <a href="http://realestate.aol.com/blog/2011/04/14/foreclosure-foul-up-wins-man-a-free-home/" target="_hplink">AOL Real Estate reports</a>. Laspina got the home "because of the significant decreased value of the property," a bank spokesman said.

  • BofA Forecloses On Building With Own Branch Office

    In Boynton Beach, Florida, Bank of America filed a foreclosure lawsuit against the owner of a building that houses one of its own branches, <a href="http://www.bizjournals.com/southflorida/news/2011/05/27/foreclosure-roundup.html?page=all" target="_hplink">South Florida Business Journal reports</a>.

  • Threatened Over $0.00 Unpaid Mortgage Payment

    A Massachusetts man was told he'd <a href="http://www.huffingtonpost.com/2011/06/08/massachusetts-homeowner-receives-foreclosure_n_872518.html" target="_hplink">face foreclosure unless he paid an outstanding mortgage payment worth $0.00</a>. "I'm going to write a check to them for zero dollars and have it clear? I couldn't help but laugh," he joked with local <a href="http://www.wwlp.com/dpp/news/i_team/I-Team:Man-gets-a-$0-foreclosure-notice" target="_hplink">News 22 WWLP</a>.

  • Home Allegedly Ransacked By Mortgage Company

    Chris Boudreau of Brooksville, Florida <a href="http://www.huffingtonpost.com/2011/07/06/florida-home-ransacked_n_890656.html" target="_hplink">told local news that his house was ransacked by his mortgage company</a>, 21st Mortgage Corporation, who he says even shredded his wife's wedding dress. "When she saw what happened...she was crying her eyes out," <a href="http://www.wtsp.com/news/local/article/199268/8/Mans-home-trashed-by-mortgage-company" target="_hplink">he told WTSP 10 News</a>.

  • Mortgage Payment Made Too Early

    A senior couple in Pasco County, Florida faced foreclosure not for missing payments, <a href="http://www.huffingtonpost.com/2011/08/22/senior-florida-couple-faces-foreclosure-mortgage-early_n_933147.html" target="_hplink">but for making one too early</a>. According to a Bank of America representative, they made themselves ineligible for a mortgage modification under the Home Affordable Modification Program when they did not make their payment in the "month in which it [was] due."

  • Foreclosure In 'World's Richest Apartment Building'

    Property developer Kent Swig and his soon-to-be ex-wife Elizabeth faced foreclosure from their apartment at 740 Park Avenue, <a href="http://www.huffingtonpost.com/2011/08/26/foreclosure-hits-property-developer-billionaire-building_n_937676.html" target="_hplink">a New York City address often cited as "the world's richest apartment building."</a>

  • Untransferred Title Leads To Unfair Foreclosure

    Brian and Khanklink Pyron of Houston, Texas were <a href="http://www.huffingtonpost.com/2011/10/10/brian-khanklink-pyron-foreclosure_n_1003339.html" target="_hplink">threatened with foreclosure despite keeping current on their payments due to an untransferred title</a>. "We did everything we were supposed to do," Brian Pyron told <a href="http://www.myfoxhouston.com/dpp/news/local/110926-family-hit-by-surprise-foreclosure?CMP=201110_emailshare" target="_hplink">MyFoxHouston</a>.

  • Foreclosure On Hurricane-Destroyed Home

    Brad Gana, of Seabrook, Texas was threatened with foreclosure by Bank of America even though his <a href="http://www.huffingtonpost.com/2011/10/31/foreclosure-crisis-bank-of-america-hurricane-ike_n_1068080.html" target="_hplink">house had been completely destroyed years earlier in Hurricane Ike</a>. "Bank of America is ruthless in their incompetency," <a href="http://www.click2houston.com/news/Bank-Forecloses-On-Home-Destroyed-By-Ike/-/1735978/4718190/-/vpooliz/-/index.html" target="_hplink">he told Houston 2 News</a>.

  • $1 Coding Error Leads To Foreclosure

    Utah's Shantell Curtis and her family were threatened with <a href="http://www.huffingtonpost.com/2011/11/03/bofa-foreclosure-missing-1-already-sold-home_n_1074538.html" target="_hplink">foreclosure by Bank of America on a home they had already sold years prior</a>. On top of that, the whole episode concerned the matter of just a $1 coding error.

  • Investigative Journalist Becomes Foreclosure Victim

    George Knapp, chief investigative reporter for Las Vegas CBS affiliate KLAS, found he was a <a href="http://www.huffingtonpost.com/2011/11/29/foreclosure-crisis-investigative-reporter-george-knapp-victims_n_1119480.html?ref=business" target="_hplink">victim of the very brand of foreclosure fraud he was investigating</a> for a news report. Him being the reporter, the episode put him in a "very weird spot," <a href="http://www.poynter.org/latest-news/als-morning-meeting/153585/local-tv-station-tackles-mortgage-mess-as-investigative-reporter-discovers-hes-a-victim-too/" target="_hplink">he told the Poynter Insitute</a>.

  • BofA Falsely Threatens Paralyzed Man With Foreclosure

    Robert Galanida, a 41-year-old man paralyzed from the shoulders down, <a href="http://www.huffingtonpost.com/2012/01/12/bank-of-america-sends-false-statements-paralyzed-eviction_n_1202463.html" target="_hplink">battled Bank of America for nearly a decade</a> because it repeatedly sent him false statements threatening foreclosure.

  • Tracy Morgan Refuses Mother Foreclosure Help

    In January 2012, actor Tracy Morgan reportedly refused to give his mother <a href="http://www.huffingtonpost.com/2012/01/31/tracy-morgan-foreclosure-mother_n_1244641.html" target="_hplink">$25,000 she needed to avoid foreclosure</a>, instead offering only $2,000.

  • Bank Of America Plaza Foreclosure

    The Bank of America Plaza in Atlanta was sold at a foreclosure auction in February after its landlord, BentleyForbes, could no longer afford mortgage payments, <a href="http://www.businessweek.com/news/2012-02-14/american-foreclosure-bottoms-at-atlanta-tower-auction-mortgages.html" target="_hplink">BusinessWeek reports</a>. BofA <a href="http://www.huffingtonpost.com/2012/01/10/bank-of-america-plaza-foreclosure_n_1197040.html" target="_hplink">was a tenant in the building at the time</a> but had no other connection besides sharing the tower's ironic name.

  • JPMorgan Tries To Foreclose On Civil Rights Activist

    Even while it promoted a February 2012 campaign to "fulfill" the "vision" of Martin Luther King Jr., <a href="http://www.huffingtonpost.com/2012/02/07/helen-bailey-foreclosure_n_1260078.html?ref=foreclosure-crisis" target="_hplink">JPMorgan Chase threatened 78-year-old civil rights activist Helen Bailey with foreclosure</a>. The bank ultimately allowed Bailey to stay in her home indefinitely after Occupy Nashville helped bring national attention to the issue, <a href="http://thinkprogress.org/economy/2012/02/14/425255/helen-bailey-foreclosure/" target="_hplink">Think Progress</a> reports.

  • Foreclosure At Luxury Retirement Home

    Despite being billed as "cosmopolitan living for ages 60+," the luxury <a href="http://www.huffingtonpost.com/2012/03/02/fox-hill-foreclosure_n_1314970.html" target="_hplink">Fox Hill Senior Condominiums was threatened with foreclosure</a> in March after its lenders said they were backing out.

  • Man Fined For Not Mowing His Old Lawn

    David Englett was charged with fines by the city of Arlington, Texas for not mowing the lawn of <a href="http://www.huffingtonpost.com/2012/03/02/david-englett_n_1317276.html" target="_hplink">a house he had already lost to foreclosure years earlier</a>.

  • 101-Year-Old Woman Evicted From Home

    Texana Hollis was evicted from her home due to foreclosure in September 2011, then <a href="http://www.huffingtonpost.com/2012/01/22/texana-hollis-evicted-detroit-woman_n_1222452.html?ref=foreclosure-crisis" target="_hplink">denied a subsequent promise that she could move back in</a> by the U.S. Department of Housing and Urban Development. It wasn't until April 2012 that <a href="http://www.cbsnews.com/8301-201_162-57409700/texana-hollis-evicted-at-101-allowed-back-home/" target="_hplink">she was finally granted permission to return to the home</a> she's lived in for 60 years.

  • BofA Forecloses On Woman After Telling Her To Miss Payments

    According to Pamela Flores, an Atlanta homeowner, <a href="http://www.huffingtonpost.com/2012/04/10/bank-america-foreclosure-miss-mortgage-payment_n_1414988.html" target="_hplink">Bank of America advised her to stop making payments</a> on her loan in order to negotiate a modification. After doing so, the bank foreclosed on her anyway, claiming she'd missed a trial payment

  • Mother, Disabled Daughter Forced Out Of Home Even After BofA Modification

    Dirma Rodriguez and her disabled daughter<a href="https://editorial.huffingtonpost.com/entry/?blog_id=2&entry_id=1423883" target="_hplink"> were forced to flee their home in minutes</a> after Bank of America sold it to a flipper at a foreclosure auction, even though the bank had already modified her loan. But not all hope is lost; Rodriguez may get her home back after the Occupy Fights Foreclosure movement intervened.

 
 
 
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