Celebrity Foreclosure

Anybody can be a victim of foreclosure. It doesn’t look into the status of a person in the society or the fame or even the job. If you are in trouble paying for monthly mortgage, no matter who you are, foreclosure will come in to your way.

The award winning director and Mel Gibson can testify to that. His property in Malibu, California is facing foreclosure because he failed to pay $12,000.



The Academy Award winning actor Nicolas Cage also lost two New Orleans homes. The two houses may worth $6.8 Million combined. Because he was left behind $5.5 Million on his mortgage payment, his property is at stake plus he owed $151,730 property tax.

On Your Way to Resolving Foreclosure

When people are in their most lowest level of financial aspect, foreclosure will usually come in and add on to the burden. The effect of financial crisis at home will not only affect everything that happens inside the home but the home itself. If you could not pay your debts including that of your housing mortgage, it may fall into a very big problem. If you are in the state wherein foreclosure is a threat, the best way you can do to resolve the problem is to think logically and not let your emotions butt in.

Basically, people will get panic at the first instance of foreclosure. The thought of losing their own homes may trigger the person to become wary, and in most cases, this is uncontrollable. The first thing to put in your mind is that you are not the only person suffering for this. There are a lot of people who are having burdens with foreclosure. You are not alone, and if these people have resolved this problem, you too ca resolve yours. Take a deep breath and relax and spend time instead to think of further action rather than worrying.

Delaying Foreclosure through Bankruptcy Filing

Are you having trouble with your house but you have no time yet to resolve the problem? Don’t worry, you have an option now. If you are facing foreclosure and you need more time to combat this challenge, you can try bankruptcy filing. This is how it works. If you file a bankruptcy, all your financial debt collections will be put on automatic stay, included in this financial debt is the foreclosure. That means, all actions must be hold off and no further action should take place. This is actually an excellent answer to the question “How to stop the foreclosure?”. Although this may not completely stop foreclosure, at least you have an ample time to arrange your financial situation in resolving this kind of issue.

Seeking Help from Foreclosure Specialists

One will reach the point of being paranoid when they received a notice of foreclosure. The situation seems to be unbearable and you feel like there’s no more hope. The truth is that, if you will just follow the right way towards defeating foreclosure, you can still possibly save your home. So if you are into a situation wherein a foreclosure notice has been warranted to you, take your time to think and put in your mind that you can still save your home.