Yes, times are changing for most homeowners in the United States, and with paycheck dwindling and less money coming in to the household budget things are going to be tight for a while. Unbelievably, the money you need to stop mortgage foreclosure is available to you right now. A little work on your part and some sound basic financial planning is really all that is needed to help you get back to where you want to be with your personal finances. Avoiding bills and late notices are the earmarks of someone that will probably lose their home in a short time. Those who anticipate the symptoms of getting behind with bills and mortgage notes are the people that can and will survive this current economy.
First, if your mortgage payment is becoming an overwhelming problem to pay each month, due to whatever reason circumstances, then immediately contact your lender. You may want to research a home mortgage refinance at this point if it is acceptable to your mortgage agent. If this is not the case, then seek information from them on payment restructuring, until you can get back on your feet. Be completely upfront and disclose your current financial situation. They are not going to try and take your home, but they want to help you repay the loan, and keep your house.
Instantaneously try to increase your income from doing consulting work in the evening, working online, or just delivering pizzas in your area. That needed cash infusion is there for the taking, some people just do not want take a step backwards, in order to go forwards in the future. So what if your neighbor orders a pizza and you deliver it. You may feel like they think less of you, but in the back of their mind they are probably saying, I wish I had the guts to do what he or she is doing for their family.
Lines of credit, and credit debt is probably one of every consumer's enemy, easy money, easy debt, will take you down the easy path to foreclosure. Stop it right now, and start trimming the household budget fat to get things back in balance. Postpone all vacation plans, weekend getaways, and start eating rice and beans instead of steak and potatoes. Yes, this is a wake up call to do the right thing, and get out of debt.
One last thing, if you have used or have even thought of the term, "Debt Management", then you are in too deep. The goal is to be debt free, and not manage debt indefinitely. Take action today to get to financial freedom and start living your life the way it was intended. You can stop mortgage foreclosure now if you really want to.