Facing a foreclosure or short sale on your home is a devastating experience to go through. Many people were talked into getting a risky mortgage or enticed by a really low mortgage rate or low refinance rates because many others just wanted a larger home than they could afford and streched their payment by using a mortgage calculator to figure out how much they can pay every month. Whatever the reason is why you can’t afford your home anymore going to the foreclosure process isn’t easy.

There is help available for you by different government programs or community organizations. One thing you should do is obtain legal counsel so they can help you through the process. If you can’t afford a lawyer Legal search for free legal programs that can help.

I recently read a mortgage is only a contract not a moral obligation. Although some people belive morally they shouldn’t just walk away from their home. Many people don’t have a choice and can’t afford to pay their mortgage.

When you leave your home the next big decision to make is where are you going to live? Many people stay with family or friends. Many others start renting a home, apartment or condo. Others buy another home before their current home goes through a foreclosure or short sale. If you are one of the lucky people who can afford another home 30 year conforming mortgage rates are averaging 4.82 percent according to the interest rate website monitorbankrates.com.

Next week we will list Utah foreclosure legal information and a list of resources you can use to help you.