Foreclosure does not just impact the place you sleep and keep all your belongings. It could also have a negative effect on your physical and mental health. Studies have shown that people who have fallen behind on their mortgage are more likely to report symptoms of depression and skip medication because of a lack of money. Sadly, the sharp increase in foreclosures since the Great Recession began has also coincided with an increase in suicide.
So, literally and figuratively, foreclosure can kill you. Though tragic, it shouldn't come as a great surprise. The threat of foreclosure is extremely stressful and often occurs following a severe hardship such as loss of employment, death in the family, or a medical problem.
Experiencing a hardship like a serious medical problem can be outrageously expensive, and cause a person to miss work or lose their job. The cost of the medical care and lost income can lead to trouble making mortgage payments, and the stress of potentially losing your home can be severe enough to cause depression, which makes getting out of the hole you're in even more difficult. It's a viscous cycle that's hard for many people to get out of.
