Manage Your Mortgage Before Default LoomsBy Richard Barrington
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In the dictionary, default comes shortly before denial. In real life though, denial often comes first. With mortgage foreclosures up sharply, it is well worth reviewing strategies such as refinancing that can help you avoid defaulting on your mortgage obligations.
Foreclosures: A National Epidemic?The reason this issue is so important now is that foreclosures are on the rise. In May of 2007, mortgage foreclosures rose to a rate of one in every 656 households. That's a 19% increase over April's rate, and a 90% jump in the foreclosure rate of one year earlier.
Refinancing to Make Debt ManageableAvoiding foreclosure means overcoming denial and considering options such as refinancing. Refinancing can help you manage your debt burden in a number of ways:
About the Author
Richard Barrington is a freelance writer and novelist who previously spent over twenty years as an investment industry executive.
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