“truth or Consequences”
June 28th, 2009 | by admin |
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Some people may remember the TV game show called âTruth or Consequencesâ. It started on radio and then made the transition to TV. The radio broadcasts took place from 1940 to 1957 and the TV version started in 1950. The TV show ran off and on until 1988. Facing foreclosure is much like being a contestant on Truth or Consequences.
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Lets look at each step of the game regarding foreclosureâ¦
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Step 1. The host would ask a question. If you are facing foreclosure your lender is asking you questions. If you do not respond quickly the buzzer is going to sound and you may loose your home. The reason so many people get the answer wrong is they have not done their research.
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Do your research! Have good answers or at least good questions.
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Step 2. Prepare for the consequences. If you are not prepared for what âcouldâ happen, you will be emotionally and financially devastated. Being prepared by contacting your lender and keeping them aware of your situation; seeking viable options, can turn what looked like a horrible consequence resulting in the loss of your home, into a heart warming reunion with your home.
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Step 3. Play Barkerâs Box. Remember you have options. Find out what drawers you can open that will bring you truth of saving your home so you do not open the one that is empty, meaning the consequence of loosing your home. The three drawers with money could be loan modification options; a Forbearance Contract; or one of the new programs like Hope for Homes. Your lender may have a special program that they are initiating to help stop foreclosures which is the empty drawer.
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Truth or Consequences? It just may be up to you which one you get. With communication and help from your lender, you just might get truth (saving your home) and not consequence (foreclosure).
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When you have saved your home and your finances have recovered, you could always give yourself a âprize.â There are always prizes on game shows. Visit âTruth or Consequencesâ New Mexico, named after the game show in the year 1950. Just like you learned in the âTruth or Consequenceâ game where your prize was your homeâ¦do your research. You want to make sure that during your trip you get more âtruthâ than âconsequenceâ for your money.
Anthony Petrucci
http://www.articlesbase.com/mortgage-articles/truth-or-consequences-647894.html
