Based on RealtyTrac, 1 in 70 homes have obtained foreclosures notices since January, 2010 - a total of 1.7 million houses in the U.S. Was your Orlando home one of them? In previous blogs, we've covered a number of ways to keep away from foreclosures, but a rising trend has brought one other possibility to the forefront.
In response to a recent Pew Research Center study, many people are surviving the financial blues by expanding their households. By the end of 2008, more than 16%, or 49 million, of Americans lived in a household with more than one generation. Though the statistics aren't again but for 2009 -2010, consultants anticipate the numbers to be even higher.
These Individuals aren't all young faculty graduates moving again in with mom and dad, either. Parents have moved in with children, children with parents - somehow, even siblings have managed to live collectively in relative harmony. This pattern spans across the board from single parents to elderly grandparents. In keeping with the report, roughly one in 5 adults ages 25 to 34 and 65 + reside in a multi-generational home.
Are you suggesting I let family members move in?
Really, sure I am. Now, depending on your family dynamics, I realize this might be the equivalent of inviting World War III to your doorstep. However, if you face dropping your Orlando home to foreclosures, you would possibly at the least stop to think about the possibilities. For example:
" More working individuals in the household means extra skill to pay the mortgage and cease the foreclosure.
" With more family members, you have a stronger family affect on youngsters living in the home.
" With extra folks, responsibility is shared more. You won't need to do all the pieces on your own.
No, it's not an ideal situation. Nonetheless, if you've stated, "I would do something to keep my home," did you imply it? Does the definition of "something" embody family World War III? Might you sit down with your family members, work out a set of compromises and reside in harmony? If you've tried everything else, this can be your best bet for avoiding foreclosure on your Orlando home.
You never know; you may even come to love it.
Author Resource:
Orlando Realty Experts .com offers homeowners a way to avoid foreclosure and help save their credit. Discover Orlando short sales, short sale Orlando , Orlando short sale & short sale Orlando services.
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