With so many homeowners now facing the possibility of falling behind on their mortgages for the first time in their lives, it would seem that there should be some situation or issue that can be pointed out that is the root cause of these problems. Foreclosure victims may feel that they are the only ones who are having difficulties with their monthly obligations, but this is far from the truth. Many people are living so close to the edge of financial ruin that any hardship will put them into a situation where they are unable to make their mortgage payment.

Some sort of financial hardship is by far the most common reason that homeowners start to miss the deadline on their mortgage and other bills. Whether it is a loss of job, medical problems, or unexpected car or housing expenses, homeowners find that they were drawn a few steps too far into the web of using easy credit and paying too much for everything. Once there is a disruption in their income, even for a few weeks, their entire situation seems to fall apart and they are left wondering how they will be able to find some way to stop foreclosure.

A hardship, in itself, though, should never be enough to cause so many homeowners to seek out foreclosure advice once they realize they will not be able to get caught up on their payments. But with the over-consumption culture and lack of savings of many households, there is simply no money to get the homeowners beyond the next week, let alone next month, in the event that their stream of income temporarily or permanently dries up. Living paycheck-to-paycheck transforms into living credit card to credit card, a precarious balancing act that is destined to fall, once the homeowners add one too many temporary solutions to the mix, whether they be car title loans, payday loans, or high-interest credit cards.

Unfortunately, most homeowners spend much of their income after taxes chasing after one or another credit card that they are falling behind on, all in a vain effort to keep their credit in good standing. They place so much importance on their ability to borrow more money that they borrow so much that they can not ever hope to repay what they have borrowed, and then they have to resort to borrowing more to pay back what they borrowed originally. And even once the house goes into foreclosure, homeowners will continue attempting to pay back predatory loans and offer the lenders more money and more interest in order to stop foreclosure or avoid collections. Foreclosure victims can find themselves spending decades of their lives being digested as food for the debt machine, ending up working in their old age when they should have retired long ago, but were unable to save up money for retirement in their earlier years.

It is a very just question to ask if all of this is necessary: the wage slavery, random acts of financial devastation caused by outside influences, and constant merry-go-round of borrowing until it all ends in homelessness, all to protect a meaningless score tallied up by three credit bureaus that have persuaded business and banking interests to use their worthless calculations to decide the happiness of potential customers. Borrowing money to finance a life of desperation, depression, and meaninglessness is not really living at all, is it?

It is important to stop foreclosure when it happens and it is vital that homeowners get as much foreclosure advice and information as they possibly can, in order to protect themselves. But it is much more important that foreclosure victims understand the system that they are being fed into, and if it is worth giving up their lives to finance their own unhappiness.

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