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Home foreclosed? Top 5 ways to survive.
If you have found yourself in foreclosure – or having to sell your home without making a dime – it probably seems like the end of the world, or at least your life. But here’s a word of advice: Snap out of it! As two homeowners who have had their homes foreclosed, we not only survived, we’ve flourished. And so can you. Here's how:
A foreclosure sign tops a for sale sign in Denver in this 2010 file photo. More than 2 million Americans have a foreclosed home, so a foreclosure is nothing to be ashamed of. (David Zalubowski/AP/File)
1. Let go of the shame of losing your home
More than 2 million people have a foreclosed home, so it’s not the end of the world. Really! The “American Dream” is a marketing slogan cooked up by bankers after World War II to sell to young families in newly developed 1950’s suburbs. The real American Dream, the one that drew so many immigrants to our shores, is about freedom. Freedom of thought and choice. Freedom from government, religion, education, science, or community having control over your thoughts and choices. It’s certainly not about a banking product, which is how lenders see your mortgage and home: merely a profitable product. In fact, it’s not a coincidence the term “mortgage” comes from Old French, meaning “death pledge.”
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