Ask the Piggy Bank: How Can I Avoid Foreclosure?

With the news that 2 million foreclosures are expected by 2009, many people are wondering if their adjustable rate mortgages will come back to haunt them when the mortgage interest rate reset takes place. One of the questions I was recently asked was this:
How can I avoid foreclosure?
The answer to such personal finance questions is never simple. But the most important thing you need to do is start preparing NOW. You need to look ahead and realize that a mortgage reset is going to result in higher mortgage payments. And you need to prepare for the inevitable. And you need …read more