Far too many Miami residents know firsthand that foreclosure is a stressful process, and the Sun-Sentinel recently reported that foreclosure may be unhealthy as well. Johns Hopkins University researcher Dr. Craig E. Pollack says that the causal relationship between foreclosure and illness has been shown in several studies. Foreclosure is linked to stress-related illnesses such as heart trouble, depress, and high blood pressure.
“As foreclosures go up, so will the number of people who get sick,” Dr. Pollack says.
One homeowner undergoing foreclosure said that she has lost 45 pounds due to the stress. The financial stress that she is under also causes her to suffer from stress-related diabetes flare ups.
“Worry makes things that much more serious than they are,” the 63-year-old homeowner said. “Stress is like a disease in itself. You never know if tomorrow the sheriff is going to knock on the door. That’s a pressure that is with you day and night.”
Miami residents who face foreclosure can make the experience less stressful by consulting with an experienced Miami bankruptcy attorney. Swift action is critical to protecting your home and a bankruptcy filing can help save you money by eliminating credit card debt and saving your home.
Alternatively, a mortgage modification or payment plan can also help homeowners stay in their home without signing it over to the bank. Many Miami banks are increasingly willing to work with homeowners because it is usually more profitable to work with a homeowner than trying to sell a foreclosed property in the current dismal Miami housing market.
Source: Sun-Sentinel, “Stress of foreclosure can make homeowners ill,” Bob LaMendola, Dec. 30, 2011