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Further, as we learned during the Great Recession, the need for many foreclosures could have been averted if lenders had applied realistic guidelines for qualifying home buyers in the first place — and if government had exercised responsible oversight over the lending process. There’s plenty of blame to go around, but you’re not to blame for wanting to give yourself and your family an opportunity to experience homeownership. Researcher Robert D. Dietz determined that homeowners tend to be happier and healthier, both physically and emotionally. They participate more in political and community activities, including voting. Their children tend to perform better academically and experience fewer behavioral problems. Who wouldn’t want these things? Whatever the underlying cause of your foreclosure, it feels terrible to you, and it’s natural to experience a range of difficult emotions. Mastering these emotions is a crucial first step in dealing with the problem. Remaining stuck in denial or unhappiness about the situation can prevent you from taking action at a time when prompt action is exactly what you need to explore and implement your alternatives.
LOSING CONTROL
It’s common and natural to feel that you’re losing control. After all, a bank or other lending institution — some faceless corporation — seems to be calling all the shots. They’re dictating what you can and cannot do, trying to force you to leave the
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