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StitcherLosing a home isn’t always one bad financial decision. Sometimes it’s about not having the resources, information, or support to know what to do next. In 2017, Jen’s mom lost the house Jen grew up in to foreclosure after eight years without making a mortgage payment. Today, Jen and Jill share what happened, what might have prevented the loss, and what every homeowner can do to protect their home.
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The Bank Disappeared. Then Jen’s Mom Lost Her Home.
In 2008, Jen’s recently widowed mom loses track of her mortgage after her bank goes under. Years later, she discovers her childhood home is in foreclosure and has just one month to move out, a financial nightmare that Jen and Jill unpack to show what went wrong and what could have been done differently.
With foreclosure filings on the rise, Jen and Jill break down what to do when foreclosure is already a threat and the preventative steps homeowners can take now to protect their homes.
Before You Lose Your Home, Do These 6 Things
Jen and Jill break down what to do if you’re facing foreclosure, from finding your mortgage servicer to working with a housing counselor and exploring your options. They also cover three safeguards that can help prevent a foreclosure crisis, including an emergency fund, life and disability insurance, and working with a CFP.
They explain how these steps could have helped Jen’s mom and why these resources are more accessible today. It’s practical advice for protecting your income, your family, and your home before a financial crisis hits.
What's one thing your parents were really good at financially?
For Jen, she appreciates how her parents did not go into debt. While Jill’s mom is particularly good at finding a deal and making do or going without.
Bill of the Week
Thanks Tara for sharing your bill about paying off your student loans EARLY!!!
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