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How to Avoid Devastating Foreclosure Consequences

If you are one of the families facing Utah foreclosure, you probably already know that the mortgage default leads to devastating foreclosure consequences both short and long-term. What you may not know is that foreclosure consequences can be avoided.

Author: Anya Ouchakova
Date: Mar 2, 2011 - 5:52:07 AM

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If you are currently investigating how to avoid foreclosure consequences:
   
   1. You are ahead of many homeowners of Utah foreclosed homes.
   2. You are on the way to save thousands of dollars both short and long-term.
   3. You are a living proof the future of your kids are important to you.
   4. You are guaranteed to minimize foreclosure consequences.
   5. You are on the right track to avoid Utah foreclosure!!
   
Before you learn the most devastating Utah foreclosure consequences, please remember, "If you cannot avoid them, you can at least minimize them!"
   
So, before you learn "how", let's review some of them:
   
1) Most homeowners of Utah foreclosed homes will face rental challenges, including thousands of dollars in additional rent, higher rent, additional deposits, co-signers and more.
   
2) Some of the most costly Utah foreclosure consequences will include outrageously high insurance cost, including auto insurance, health insurance, life, etc. Experts believe that it will cost homeowners of Utah foreclosed homes thousands of dollars that could be saved for travel and entertainment funds for kids and family.
   
3) Utah foreclosure can also lead to sky high financing rates on credit including credit cards, auto loans, student loan, etc. Even if you are living on cash base right now, what if your vehicle breaks down? Why pay double on your car payments?
   
4) One of the most important foreclosure consequences is the inability to finance your next home.
   
    * Even though you may not be thinking about buying your next home now, the truth is... You are a home owner at heart. And renting can work for you for a while, yet not forever. What if within a year, you financial situation is different? Will you still want to rent?
    * If you avoid Utah foreclosure and all of its costly consequences, you are more likely to buy your next home in 12-24 months instead of waiting for 5-6 years? Big difference, isn't it?
   
5) One of the most costly consequences after Utah foreclosure might be a job application rejection by the potential employer, who finds out you had foreclosure on your record. Sad, isn't it!
   
6) Additionally, as a homeowner of Utah foreclosed homes your kids may not be approved for scholarships when ready for college!
   
7) The public record the Utah foreclosure law suit by your mortgage company against you will stay on your record forever. It's public information available to anyone, including your future employers.
   
The truth is... It doesn't have to be this way!
   
Get the expert advice! You too can avoid Utah foreclosure consequences and save the American dream!!

Anya Ouchakova is a Salt Lake City Realtor, specializing in saving Utah homes from foreclosure. Anya's mission is to help avoid Foreclosure Consequences and save the American Dream by offering FREE expert advice to Utah homeowners in foreclosure.

View all articles by Anya Ouchakova

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