For most this is simply an eye brow raising question but for someone in or facing foreclosure this could save you financially. First we need to understand why people go into foreclosure in the first place. There are thousands of reasons But I want to talk about one of them that we could control. One word immediately comes to mind, DENIAL.

Denile wears many hats and disguises. I will try to touch on just a few. First state of denial starts at the purchasing stage. Just because your current financial situation may show that you can possibly pre-qualify for a million dollar loan doesn't mean you must spend it all. Why spend that kind of money on a home that you may not necessarily need. If there are two working people on the loan try to keep you monthly mortgage low enough that if one of you, for one reason or the other were unable to produce an income for a while there would be enough cash flow to keep up the mortgage payments. Second state of denial starts when the bills start to pile up. Everyone who's ever faced forclosure had to be notified several times during the process. Lets face it people the bank does not want your house! So for that reason when you get that first notice CALL them (now is the time to get out and save you credit). By denying it is going to happen and trying to let it play out you will lose! Be smart now is your chance to make arrangements to sell and start again. Here is my favorite. Those persons that can see it coming and try to dodge the bullet by For Sale By Owner. Very few succeed but many try, then (heres the good part) they try to get an agent involved a week before the property hits the auction block.  

In my opinion most forclosures avoidable. YES BAD THING HAPPEN ALL THE TIME. However you cannot let that be your #1 excuse. Lets just pay a little more attention to our finances going in to for may the biggest purchase we would ever make in our lives, also lets try not to become so stable in our thought process so that we could recognize when adjustments need to be made in order to save ourselves from ourselves.