working paper, based on a dataset of 6 million individual housing transactions from 1990 through 2017, found.
To make ends meet, Veronica, a divorced mother of one, had to make adjustments. She started driving for Lyft. She took up bartending. And she says that as much as it pained her, “I had to stop paying my mortgage.” They can apply for a loan modification or ask the bank about “cash for keys” — an agreement that lets homeowners in foreclosure “turn in their keys” in exchange for money to move. Or they can turn to state-funded programs, like one led by theIt really depends on their specific situation Veronica says but assures me “there’s alwaysthat can be done.” For one of her clients, Jamile Boseman, 35, that something came in the form of a short sale he now calls his “saving grace.
Not knowing what to do can make an already stressful situation like foreclosure even more frustrating, Veronica says. “And for people, who don’t have that information or don’t know what their options are or what resources are available, they often find [the process] too overwhelming and just give up,” she says.