It’s no secret owning a home is a large responsibility, both physically and financially. When these responsibilities become more than you can handle, hiring a foreclosure attorney is crucial to maintain ownership over your property. However, it isn’t always clear you’re heading in that direction. Below are some signs you might be headed toward foreclosure, so you can take effective action before it’s too late.

3 Signs of an Upcoming Foreclosure

1. Your Household Income Changes

When you purchased your home, you likely did so under the assumption your current household income status would either improve or stay the same. As such, if you take on a new job at a lower pay grade, or another contributing member of the family loses work, it could put a severe strain on your ability to pay your mortgage every month.

2. You Receive Missed Payment Notices

Of course, life does happen, and you may sometimes be a day or two late on your mortgage payments. However, if you’ve received multiple notices from the bank declaring late or missed payments, you could be heading for a foreclosure. Talk to your bank to work out a solution to better get a hold of your monthly plan so you can avoid issues later on.

3. You Struggling Maintaining Your Finances

One of the key hallmarks of being ready to own a home is the ability to maintain control over your budget. You should be able to delegate your fund responsibly to ensure timely payments. If you haven’t mastered this skill yet and have already purchased a house, it’s more likely you will need a foreclosure attorney down the road. To get ahead of this curve, opt for financial counseling to learn how to better manage your budget. 

If you do end up needing a foreclosure attorney, turn to C. Roland Krueger Attorney and Counselor at Law. Based in Lexington, NC, this lawyer has almost 40 years of experience providing locals with the guidance and insight needed to maintain control over their finances. Call (336) 248-8464 to schedule an initial consultation, and visit their website for more information on their services today.