Christmas is just around the corner and it’s easy to overspend while shopping and looking at so many things that you want or may even need. However, if you’re just pulling yourself up by your bootstraps and trying to gain hold of your finances, and on the cusp of losing your home, this is not the time to spend your money on luxurious gifts.
This is the time of year when most of us want to enjoy our families and eat, drink and be merry, so its easy to ose sight of our financial troubles. Does that sound familiar? The possibility of not being able to make our mortgage payment is just not going to happen…so we think.
But the truth is the holidays make us spend more than we anticipated and that’s why we have got to be especially conscious of what we’re doing.
If you’re already behind, then it is inevitable that you will become even more indebted when you buy all those gifts that you can’t really afford, so think before you run a chance of losing your home.
Believe me you will feel a lot worse when Christmas is over and you awaken to realize that you have spent the mortgage payment. It can make you feel irresponsible or like trash…it will depress you.
Even though you didn’t intentionally plan to overspend, the fact is that it happened. But it does not have to happen if you make conscious efforts to stay within a strict budget during this time of year and stick to it.
Do not become so relaxed that you forget that you’re on the verge of losing your home, and think it won’t happen to you. Trust me, it will happen if you are not diligent in maintaining a strict budget.
The threat of foreclosure, during the holidays should constantly ring a loud bell in your ear to remind you that this does not have to happen to you. You and your family have worked hard to keep a roof over your head.
However, if you fall prey to the weakness of the Christmas spirit, then be prepared to resolve the problem by
1) Calling your lender to make arrangements to make up the back payments.
2) Try to make a deal with your lender where it will be caught up by a specific date.
3) If these 2 methods fail, don’t hesitate to go online and find your mortgage companies website to speak with a specialist that can offer you a solution to your problem.
You will be surprised to know how willing and cooperative mortgage lenders are to work with you since the debacle of the 2007 Real Estate Bust. Don’t think twice about calling them and work out plan to save your home.
I hope this post will help any homeowner that is at threat of foreclosure will find this information to be helpful.
Merry Christmas everyone.