Thinking about the situation may bring up a series of emotions. You may feel angry at yourself for falling into serious financial trouble, and angry at the bank when you think about the possibility of repossession. Anxiety and stress are likely wreaking havoc as you go about your daily routine – and they’re probably keeping you up at night, too.
Although you may not have been forced to move yet, you may feel embarrassed that your situation has progressed to such a serious level. You may even be anticipating, several months from now, having to tell people you’re moving. (You wonder what will you say to your friends and family members, right?) And worst of all, you might be afraid that losing your home is the first step down a slippery slope of financial ruin, which includes long-term damage to your credit score.
If you’re in serious financial trouble, you may feel paralyzed, unsure of what to do and what NOT to do, and unsure of what options are available.