The largest expense most of us pay each month is our mortgage payment. We don’t mind making this payment when real estate values are increasing, but during times of recession as house prices are falling, it’s hard to justify making a huge mortgage payment. The stress can become unbearable when you fall behind on your mortgage payments, and that can lead to marriage problems.
So, how can you save your house, and your marriage?
Start by calculating what you can afford to pay. If your house is declining in value, it may be less stressful to sell your house and rent.
Alternatively, if the stress is caused by all of the other debts you are trying to pay, it may be prudent to consider filing a consumer proposal to deal with your other debts, like credit cards, so that you have enough money to continue making your mortgage payments, so you can keep your house. A consumer proposal may be the solution to relieve stress, and help you get back on track.
