There is often a misconception that people who file for bankruptcy are forced to do so because they were financially irresponsible. Although there are people who do file for bankruptcy for this reason, the majority of people who find themselves in this position get there because of events that occur of which they have no control over. A loss of employment, a serious medical issue, and divorce are just a few of the reasons that can completely wreck someone’s finances and leave them overwhelmed with debt.
Trulia, a leader in the real estate industry, recently reported that refinance rates for a 30 year fixed mortgage in Waukegan, Illinois can be obtained for as low as 2.250 percent. Trulia further reported that the median sales price of a home in Waukegan is $91,250, a 30.4 percent home value increase as previously reported a year ago.
Are you currently experiencing the onset of extreme financial hardship and perhaps thinking of tipping your hand and cashing it in when it comes to your home mortgage? Perhaps you should think again. Saving your home may be worth the fight because in all reality, your mortgage lender actually does not want to repossess your home.