Foreclosure can happen to anyone if the circumstances for it are present. It’s a misconception — and it’s incredibly unfair — to judge anyone’s success based on their foreclosure experience. Often, the more success you have, the more likely you are to buy an expensive house, to invest in a wide range of assets, or to participate in blockbuster deals with other participants. For those reasons, these “successful” people are often vulnerable to a downturn in the economy or housing market; a personal financial setback; and/or a complication arising from the actions of a partner, spouse, or co-investor. What do music entertainers Paul McCartney, Rihanna, Billy Joel, and R. Kelly have in common with actors Kim Basinger, Nicholas Cage, and Kristen Bell and athletes such as Evander Holyfield, Terrell Owens, and Allen Iverson? You guessed it; these are only a few of the famous personalities who have faced foreclosure at some point during their careers. Some managed to save their houses because of a turnaround in their luck or the last-minute intercession of a friend. Some lost the houses they loved. Others found ways to avoid foreclosure by pursuing sensible alternatives, the same alternatives that might just be available to you. But one thing is clear: Foreclosure didn’t define them, and it doesn’t define you, either! We’ve seen how an entire industry has grown up around the practice of lending to home buyers. Fortunately, an entire industry also has been growing to meet the needs of individuals who require help and protection in the foreclosure process — individuals like you. This book is your roadmap, your way out of the foreclosure maze! We’ll begin in Part 1: The Ins and Outs of Foreclosure, by examining what a foreclosure is … and what it’s not. The truth might surprise you in ways that you find encouraging. We’ll talk
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