Which one of these is the best way to prevent foreclosure? Save at least 1% of your home's purchase price annually Refinance as soon as possible Use a budget to live within your means and build savings Never accept an adjustable-rate mortgage

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Julissa Patel

9 September, 18:36

Which one of these is the best way to prevent foreclosure? Save at least 1% of your home's purchase price annually Refinance as soon as possible Use a budget to live within your means and build savings Never accept an adjustable-rate mortgage

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Izabella Gray · Answer 1

Use a budget to live within your means and build saving

Explanation:

Taking loans in engaging in capital projects are not to be discouraged, but the opinion or the fear of the masses is, if such loans could be paid back or the lender will be forced to apply foreclosure on your assets.

Through living within your means and with a healthy and well planned saving budget, all borrowed money will be definitely paid back to the lender.