“What are the warning signs of home foreclosure?” This is one of the most common questions we get asked here at Berkowitz Law Group. That being said, we decided to pen a blog post citing common warning signs, financial warning signs and strategies on what to do in case you find yourself in this situation.
There are many warning signs when it comes to home foreclosure and many of these have to do with unexpected life changes including: a reduction of hours or job loss, minor or major illness or injury, divorce and/or separation or the death of a love one.
It is often difficult to think about home foreclosure during the difficult life situations listed above, especially when you and your family are focused on the unexpected situation. The best way to deal with home foreclosure is plan a solution and develop a plan before the problem arises.
Financial Warning Signs
If you are dealing with a home foreclosure and there wasn’t a major crisis, you’re not alone. There are many financial warning signs that indicate you may need some financial assistance. These signs include:
- Maxing out your credit cards
- Being unable to pay your bills on time
- Applying for new credit cards after maxing out old ones
- Having to choose which bills you pay first each month
- Borrowing money from friends
- Paying only the minimum on credit card balances
What to Do
If you are worried about home foreclosure due to a major life event or you’ve experienced one or several of the financial warning signs we listed above, it’s important to talk to someone immediately. You can contact an experienced Berkowitz Foreclosure Attorney for no cost at (727) 344-0123 and we will explain the entire house foreclosure process with you. We look forward to hearing from you and helping you resolve your home foreclosure issues.