Are you losing your home? Certainly this would make you unhappy, but can it make you sick? A recent study shows that the foreclosure crisis is having more than just an economic toll on Americans. It is making Americans sicker! Janet Curry, co-author of a study published by the National Bureau of Economic Research states “our findings prove that yet again economic well being and physical well being are connected. The foreclosure crisis is having a significant impact on mental health as well as on a wide range of preventable conditions that are susceptible to stress.”
Studies Regarding Foreclosures and Health Problems
Researchers conducted studies in California, Arizona, Florida and New Jersey. These are states that have significant foreclosures problems. First, the studies showed that for every one hundred foreclosed properties in a community the emergency room and admission rates in local hospitals increased by almost seven and a half percent. This is the greatest areas of increases were related to hypertension and diabetes. Hospital admissions and outpatient care related to anxiety increased to over twelve percent.
Louis Allen, the mental director at the Florida Hospital Center for Behavioral Health stated, “[w]e’ve seen more patients under financial stress whose mood, hypertension and diabetes are worsening. Often these patients feel so overwhelmed they don’t do what they need to do to take care of their conditions.” He stated further that “when stress hormones rises these conditions get worse.” Allen pointed out that “the housing crisis is forcing more families to move in together. This often causes increased friction and arguments. This can lead to the consumption of alcohol, and substance abuse problems, high levels of anxiety and even suicides.”
What To Watch Out For
Financial problems and stress related to these problems can affect virtually every area of your health. They can create eating disorders and sleeping disorders. They can push you into consuming alcohol or other drugs. Individuals under financial stress need healthy outlets for their anxiety. Physical activity, going to a gym and participating in all types of athletic programs are healthy ways of dealing with stress and anxiety. So if you have problems related to your finances, consider seeing a debt counseling center and a therapist. Don’t let your financial problems drive you to drink or other inappropriate activities.
Foreclosure Defense and Bankruptcy
If you are served with a summons and complaint or threatened with foreclosure you should contact a foreclosure defense lawyer. The foreclosure defense lawyers at the Law Offices of Schlissel DeCorpo for more than 45 years have been helping clients deal with foreclosure problems. We submit applications on behalf of our clients for mortgage modifications. We handle forensic audits. We litigate issues such as defective mortgages, defective foreclosure law suits, predatory lending, foreclosure fraud and other real estate related legal problems. We appear in court for foreclosures settlement conferences on behalf of our clients. We also file foreclosures related bankruptcies for our clients.
Individuals have two types of bankruptcies they can file, either a Chapter 7 or a Chapter 13 bankruptcy. Chapter 7 is a straight bankruptcy. While a Chapter 13 is a repayment plan of between three and five years. Either of these types of bankruptcies can help. Filing bankruptcy can eliminate second mortgages, stop foreclosures from moving forward, stop debt collection activities and eliminate creditor harassment. At the end of the bankruptcy we can educate you on how you can reestablish your credit. Call our office should have foreclosure or bankruptcy questions or you are worried about losing your home! Our office phone numbers are 1-800-344-6431, 516-561-6645 and 718-350-2802.
