I recently had a foreclosure scare. On the Life Disruption Scale, that's right up there. Not as bad as a cancer scare, and trust me, I do feel fortunate that this is the worst disaster I've been challenged with in the last few years. Due to my small business failure (independent retailer) I was unable to pay my mortgage for about six months, and starting getting foreclosure notices. My house was actually well in the foreclosure process, but thanks to a no-strings loan from a friend (who is a gift from the gods) and some odd jobs, I was able to get back out.
I don't know how long I'll be able to maintain the payments though. I've had a few freelance jobs, and I'm just trying to hold on until spring, when maybe the housing market will pick up and then maybe I can sell it, and maybe walk away with enough cash to buy a trailer and move south. Or maybe I'll have a job soon. Lots of maybe's.
You know those "housing programs" that ostensibly keep homeowners from foreclosure? Sadly, they are smoke and mirrors. If you are in this position you don't qualify for a lower interest rate, which is one of the things that would truly help.
Anyway, I ran across this book today, and will probably pick up a copy. It looks like it has a ton of practical advice.
So, what's your foreclosure story?