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How you can deal with foreclosure stress

Maybe you already started getting foreclosure notices. Maybe nothing is official yet, but you've missed payments, you know you're going to miss more, and you can tell that a foreclosure is coming. Either way, you're dealing with a significant amount of stress. Below are a few ways to handle it:

1. Remember that you may not be at fault.

Perhaps you're only facing foreclosure because they had to downsize at work and you were laid off, even though you had done a great job for the company. Don't beat yourself up emotionally if it's not your fault.

2. Think about the big picture.

Do you owe more than your home is worth? While foreclosure isn't ideal, that's not a contract you wanted to be in to start with. Remember that there are things you can do to come out ahead in the long run.

3. Find other ways to cut back on financial stress.

Maybe you can't afford the house, but there are other ways you can reduce your bills -- like getting rid of cable and using streaming TV services or bargain hunting and using coupons at the grocery store. If the foreclosure stresses you out, try to make sure it's the only thing that does.

4. Know your legal options.

Nothing is more important than understanding what legal options you have. Much of the stress of foreclosure comes from feeling like things are out of your hands, like life is out of control. If you know what you can do and you begin working to secure the best possible outcome, you'll feel much better about where you're at. Do not delay in looking into all of the legal tools at your disposal.

Source: US News Money, "7 Ways to Cope with the Stress of a Foreclosure," Alan Dunn, accessed Feb. 21, 2017

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