Despite reported upswings in the housing market, foreclosures continue to be a huge problem for residents of the US. In April 2018, 1 in every 2,058 homes in the US received a foreclosure filing.
The RealtyTrac database lists over 588,000 homes that are currently in foreclosure. That’s well over half a million families struggling with the devastation of losing their homes.
For most of us, foreclosure seems like an abstraction –– like the Boogie Man, or Tooth Fairy. And yet, foreclosure is a reality that many American families deal with every single day. With a rapidly changing economy and the uncertainty of guaranteed employment or good health, foreclosure can creep up on you at the most inopportune time. Here’s how to deal with it if it does: