Surfing the Housing Slump: Ideas and Tips for Life After Sale or Foreclosure

Surfing the Housing Slump: Ideas and Tips for Life After Sale or Foreclosure

Many of us when looking up and down the streets in our respective neighborhoods are facing the reality of the “housing slump.” For most who have either been forced to sell a home or have had it foreclosed on, it doesn’t have to be the end of all luck. And it’s becoming more common for homes in suburban or residential neighborhoods to have an added member of the family or guest, particularly someone who has recently lost his or her home.

This doesn’t mean that the person, persons or family at a loss has failed or did something to let the process of losing a home happen. And no, it doesn’t mean these despairing people are incompetent in any way, can’t finance, or have no chance of ever owning a home again. It also doesn’t permit an excuse with regard to anybody who has owned a very large home and has been prosperous that he, she, or family has a second home to go to. What’s important is what you can do until the slump subsides. One alternative is home sharing or living in closed quarters while savings or work opportunities build.

Many military families, students and mobile workers are plagued with nomad living constantly. Other considerations include a modular or fabricated home, a mobile home, or staying in a recreational vehicle or trailer park. Also, mobile homes are available for rent at the same rate as small in-town rents, but with more space and room for pets when allowed. By the time some of us survive the slump perhaps there will be some rethinking done and a mobile home can be eventually moved to an ocean site, set up near a national park or wildlife refuge, or kept in walking or short driving distance of a sports, theater or shopping town utopia.

Instead of the “housing slump” getting anybody down perhaps it’s a chance to touch base with long-missed friends or family, an opportunity to visit an old home town or a chance to spend some time with Spot or Rover, maybe Muffin if you have a favored feline. Considering the crunch is not practical for a family with children in school, perhaps if the bills are spinning out of control and mom, dad, wife or husband is out of work, you may have little choice other than selling your home in the spring, camping at a quality site over the summer before school starts and give yourself a chance to save for a rent or smaller place in the meantime. Another solution is to rent your home while you stay at a less expensive location. Also, remember some area Social Service agencies are holding some reserves for the housing crunch with regard to food and medical as well as non-profit organizations and local church groups.

It’s necessary to keep your head up and thoughts positive, to use the local libraries, business centers and employment resources for computers and letter writing. Be aware that in most neighborhoods at this point of the slump, somebody has either lost a home or has someone staying with them who is in the predicament. It could happen to any of us for many reasons, catastrophes are not on purpose. In fact, after talking in depth with most people, all too many have “been there” at some time of their lives. And for those of us who have a warm roof over our heads this can be a reminder to be exceedingly grateful.

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