My mom has been upset the past few days because a friend of hers is losing her house due to foreclosure. They refinanced and took one of those mortgages that had a variable interest rate. When the rates went up, she and her husband couldn’t afford the payment. Foreclosure has always been an embarrassing thing. Foreclosure meant that you had mismanaged your money or had a tragedy in your house. Now it is becoming so common that no one thinks much of it. They blame the banks. I do think that the banks made it too easy to refinance and not warn people of how high the payment could be if the interest rates went up. It looked so good. Some consumers were given loans over the value of their home, up to 120% of its appraised value. This trend peaked around September 2005 and it’s full impact wasn’t felt in the market until two years later, when low introductory rates were readjusted and people’s monthly payment became so large that there was no way they could pay.

Now that this is happening to people, they are searching for help. There are not many sites on the Internet that offer help. GotTrouble.com has answers. GotTrouble has so much information on Foreclosures that many people are finding that their anxiety level goes down, as they are able to understand how the foreclosure process works and what to expect. This website helps the homeowner learn how to deal with the lender and how the laws in their state read.

If you know someone who will be facing foreclosure, let GotTrouble help him or her.