If you've fallen behind on your mortgage, it's a good idea to save some extra money to help you get through whatever solution you eventually reach and your life afterward.
No matter what happens, whether it's the best case scenario, like a loan modification with a big principal reduction and low monthly payment and interest rate, or the worst, like losing your home to foreclosure, having a bigger financial cushion is always a good thing.
You can never have too much money. (If you can, that's the kind of problem we'd all like to have.)
Americans aren't the best savers in the world. 1 in 3 Americans has no retirement savings, and many households don't have enough cash savings to survive a $500 emergency, much less a mortgage crisis that costs tens or hundreds of thousands of dollars. The good news is that just about anybody can save some money with a little bit of effort. Here are a few suggestions on how to do that.