of foreclosure. This book is designed to give you a head start in that process. When you make the decision to sell your home — or take other proactive measures to save yourself from foreclosure — you take back control of your life and become a part of the decision. Don’t let other people make your decision for you. Before we get started, I make this pledge to you: I’ll help you the way a good friend would, and I’ll do it without judgment, without bias, and without asking anything in return. When it’s useful, I’ll direct you toward other resources. The guidelines I present in this book will help to prepare you personally and financially to cope with foreclosure and to develop your strategy for turning the foreclosure process into opportunities!
YOU'RE NOT ALONE
Foreclosure is far more common than you might think. A study conducted by the Federal Deposit Insurance Corporation (FDIC) found that one in every 200 homes will be foreclosed. Let’s put that number in perspective; in a city the size of Washington, D.C., that means 3,000 residents will lose their properties every year. According to the Mortgage Bankers Association, in the U.S., one child in every classroom is at risk of losing their family home because their parents can’t pay the mortgage. Every three months, 250,000 new families enter into the foreclosure process. Remember the Great Recession and the years that followed? From January 2006 to April 2016, more than 6.3 million foreclosures were completed.
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