Part 3 in 3-part series “What you don’t know about foreclosures can hurt you”
Based on my personal experiences (contact me and we’ll ‘talk story’ ), and from helping clients walk through the overwhelming fear and confusion that come with facing a foreclosure – last, but not least are my personal tips on how to survive a pending foreclosure;
- Think like an Entrepreneur or Business Owner – not a Consumer; Major corporations and businesses go through “restructuring” all the time. In fact, since the late 80’s it’s been a common business practice and viewed as a strategic move for the survival of the company. If you think like the ‘CEO’ of your family, it’s a similar process. You’re facing tough business decisions to transition your family into a more positive future. Corporations carry no guilt about restructuring, or using tax dollars to finance a failing company – yet as homeowners, guilt and shame often keep people stuck, and unable to pursue alternatives to foreclosure.If you interviewed the top 20 wealthiest Americans, I’d venture to guess 90% have a failed company or bankruptcy in their history. Look at Donald Trump’s background and you’ll find both bankruptcy and foreclosure. This is a time of transition for you – not failure. Homeowners today facing foreclosure are part of a national financial crisis. You didn’t get here alone. And you don’t have to be alone as you work your way out of it.
- Talk to an Attorney and CPA; Okay, so we covered that already in the previous articles – but it’s very powerful emotionally to know your options. It takes away much of the weight of the fear of the unknown.
- Stay away from ‘Eeyores’; It’s hard enough to stay positive and move forward in a challenging situation. It can be devastating when people around you constantly complain and talk about how terrible it is. If you get overwhelmed, it won’t help you or your family. I’ve found it very helpful to focus on what I’m grateful for, what I can do, and what might be possible in the future. You are not alone in this situation and it’s important to be around people who are supportive and moving forward.
- Start a new hobby; what does that have to do with foreclosure? This is a very stressful time. Either starting a new hobby, or going back to what you love – “find your bliss.” We live in one of the most gorgeous places in the world, and most of the joy of the island is free. Make sure you find time to feed your soul and rejuvenate. You’ll be better able to face the tasks at hand.
- Take care of your health; with the fear and uncertainty foreclosure can bring, it’s critical to take care of yourself. Take a deep breath and know you aren’t alone.
Parts 1 & 2 of the series;
For more information about how to avoid a foreclosure, please visit www.KauaiHelp.com or contact me for a confidential consultation. If you’re behind on your payments or think you might be soon, it’s important to take action right away. Please know I’m here to help.