4 Ways to Deal With the Emotional Consequences of Foreclosure

After the housing crisis about a decade ago, foreclosure developed a bad reputation. As you likely know, following a foreclosure, you face a variety of economic consequences. Having a bad credit score or paying higher interest rates, though, may pale in comparison to the emotional consequences you face. 

If you are lucky, you may never have to worry about facing a home foreclosure. Still, with roughly 625,000 foreclosure filings in 2018, foreclosure is not exactly rare in the United States. How you deal with your feelings and emotions may play an important role in your outcome. Here are four ways to keep your negative feelings about the foreclosure process from taking control.

1. Stop ignoring your feelings

Foreclosure can be stressful, embarrassing and downright sad. If you do not address your emotions, though, you may not make proactive decisions. As such, you must stop feeling bad about your financial situation. Instead, acknowledge your emotions and take steps to address them.

2. Seek professional help

Both your psyche and the foreclosure process are incredibly complex. Rather than thinking you have the skills to manage your emotions on your own, seek professional help. A qualified therapist can likely help you deal with your emotions. Likewise, a skilled foreclosure defense attorney can remove much of the confusion from your home foreclosure.

3. Focus on yourself

Your friends, family members, co-workers and others probably have some opinions about your financial predicament. Only you walk in your shoes, though. Rather than worrying about what everyone else thinks, focus on yourself. Decide what is right for you and stick with the plan. When someone unqualified offers advice, try to ignore it.

4. Plan for the future

Even if you are deep into the foreclosure process, you may not lose your home. In fact, there are probably a few different ways you can save it. Even if you have to move, though, your foreclosure process will eventually end. By recognizing your situation and planning for the future, you maximize your chances of recovering. 

It is perfectly fine to experience sadness, anxiety or depression during foreclosure. Still, if you let your emotions discourage you from making smart decisions, your foreclosure may become even worse. By understanding how to manage your feelings, you position yourself to get through the foreclosure process in a smart way.

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