Foreclosure has become the norm as homeowners are watching their house values plummet at the same time as their interest rates and payments skyrocket. What is the best thing for a homeowner to do? Walk away from the mortgage all together, lose their house, ruin their credit and deal with the stress for years of having a foreclosure on their record?
It’s a disheartening spiral…mortgage payments increasing as home prices plummet. Most homeowners can’t afford to keep paying the higher payments and can’t sell their house for a high enough price to cover the remaining mortgage. So they are abandoning their homes along with their mortgages. Is this the best option?
We all know someone that is or has handed the keys back to the lender rather than trying to keep up with rising payments and dealing with the disastrous effects on their credit reports.

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