11% Of American's In Forclosure

In today's news (March 6, 2009) it was reported that 11% of American's were either in foreclosure or at least 3 to 4 months behind on the mortgage payments.

It seems that banks haven't learned anything from the past 6 months. As rates adjust we see more families falling behind on their mortgage payments.

Yes some families have over spent and they should lose their house and start over with the lessons learned from their over spending.

What should a family do that finds themselves in the 11%.

1) They should honestly sit down and take a deep breath and figure out if they are in trouble due to over spending. If they are in trouble due to a job loss they must start preparing to make a move to a more affordable house.

2) They must stop using all credit including credit cards. They must figure out a budget and start to live within their means.

3) They must start to figure out how to bring in extra money. This is an important key that will determine how fast they will rebound from their financial fall.

4) They must always remember the past and move forward with a positive mindset. People that have a positive mindset even when things are going against them will ultimately win because of they will start to attract positive people, things and situations into their lives.

5) Begin to dream again! Remember if a person has had any type of financial or personal downfall, it will be very important for them to start dreaming about how they would like their life to be after they rebounded. They must dream about their new house, new car, paying cash instead of using credit, saving money instead of over spending, etc., etc.

Never panic tomorrow is always a better day. There is no situation or circumstances that a person can't rebound from using these principles.