Tips from an Orange County NY Foreclosure Lawyer: How to Handle the Mental and Emotional Stress of Foreclosure

As an Orange County NY foreclosure lawyer, I speak with clients every day who are facing foreclosure and the loss of their home. Most of my conversations focus on the legal aspects of a foreclosure. We discuss process and procedure, options for fighting foreclosure, and rights of a homeowner throughout the foreclosure process. However, the impact of foreclosure reaches far beyond the legal circumstances.

Common Responses to Foreclosure

The emotional and mental response to foreclosure is well documented. Few of the reactions are positive, and for many people news of foreclosure is a dramatic event. Health specialists and psychologists are reporting higher numbers of many mental and emotional disorders intertwined with the rising number of foreclosures in the United States. These include a rise in anxiety, depression, and addictive behaviors.

Statistics tell us that individuals going through foreclosure are more likely to have emotional outbursts at home, make mistakes at work, engage in excessive drinking, gamble more often, and display signs or thoughts of suicide.

As well, foreclosure impacts your family dynamic, the loss of your home can mean kids changing schools, parents changing jobs, and disruption to everyday life. From the moment you receive a notice of foreclosure, the stress and mental anguish of losing your home starts to build. From the perspective of an Orange County NY foreclosure lawyer, dealing with these mental and emotional implications of foreclosure is necessary to have a strong legal outcome.

Learn About the Foreclosure Process

Uncertainty and lack of knowledge are major reasons for anxiety and stress during a foreclosure. Many homeowners don’t understand the implications of a foreclosure notice or know the timeframe for an Orange County NY foreclosure. You may be unclear how to communicate with your bank or how a foreclosure will impact your future finances.

Alternatively, learning about each step of the process sets expectations and lowers anxiety. An Orange County NY foreclosure lawyer can outline the typical foreclosure process and answer your questions about timing, foreclosure sales, moving out, and notices from your bank. Armed with all this information, you’re ready to take action against foreclosure.

 Take Action Against Foreclosure

Much of the emotional toll associated with foreclosure arises from the homeowner’s perceived lack of options or resources. Homeowners facing foreclosure say they feel hopeless. The news of a foreclosure seems final and definite. There isn’t an avenue for recourse or fighting the foreclosure. This leads many homeowners to feel like a victim or bystander to the events of losing a home. Taking action is possible.

When a homeowner hires competent counsel, like an Orange County NY foreclosure lawyer, it opens the door to fight the foreclosure. A local lawyer can provide options for delaying a foreclosure sale, negotiating with the mortgage holder, or arguing legal procedures were violated or skipped by the bank. Taking action returns agency to the homeowner and obliterates the feelings of helplessness and hopelessness that otherwise accompany this process.

Eliminate Other Financial Stressors

Removing other financial stresses from your life is a necessary step during foreclosure. Very likely, foreclosure isn’t the only financial pressure you are facing, and is an effect of poor spending habits in other areas of life.

Homeowners in foreclosure should look at their credit card debt or set a new monthly budget. Look for information on how to cut the costs of other major expenses, such as car insurance and other regular bills. This is the time to comparison shop for your regular expenses. You can cut spending on everything from the grocery bill to utilities. By taking control of your financial situation in these other areas, it can decrease the stress and pressure of a foreclosure.

Look Ahead

 

Foreclosure is a single stumbling block on your path to financial freedom and a healthy financial future. It’s an obstacle, but it doesn’t have to be your norm. Whether this is your first time through foreclosure or your fifth, the future can be different. It’s possible to build a successful and optimistic financial situation after foreclosure. And that changes you’ll make to rebuild credit, cut expenses, and save money is the perfect place to focus.

As you look ahead, you can also leave the complicated bank negotiations and frustrating conversations to your Orange County NY foreclosure lawyer. If you need legal counsel and assistance through the foreclosure process, start by contacting one of Orange County’s most reputable foreclosure lawyers, Simon Haysom. Our office is dedicated to bankruptcy and foreclosure advice in Orange County, Goshen, and Sullivan County. Contact us at 845-294-3596. We’ll help you put foreclosure in the past.

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