Many mortgage lenders today will advertise that taking out a mortgage will "get you out of debt". Of course, this is not true, but it sounds awful nice. What does the phrase mean to you? One thing it certainly does not mean: loading up your home with debt, until the mortgage payment is too high to stay there.

This is a growing problem in Indiana, which now has the highest foreclosure rate in the nation. Hoosiers in record numbers are putting too much debt on their homes, and losing them.

But how did it happen? Bad choices with credit cards lead to bad mortgages to pay off the cards, and debt rises, becoming a reason for home foreclosure.

There are two easy secrets:

1. Don't spend what you cannot pay this month
2. Don't put more debt against your home

Once the home is overburdened, there are legal procedures, in bankruptcy and outside of it, which will help. But it can be expensive to save a home, once foreclosure starts. If you want a full explanation of your options, set an appointment today: 317.266.8888.

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Locations:
3802 West 96th Street #110
Indianapolis, IN 46268
Phone: 317.266.8888 • Fax: 317.266.3401

1705 North Shadeland Avenue
Indianapolis, IN 46219
Phone: 317.266.3405 • Fax: 317.266.8975