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High Price of Foreclosure: Your Marriage

It's important to note that financial problems and stress are the underlying reasons behind many divorces -- and foreclosures can create both. In fact, money-related issues are the number one reason for divorce.
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Nevada has the nation's highest foreclosure rates. In December, 2011, one out of every 177 homes was undergoing foreclosure. It's also true that Nevada has the highest divorce rate in the United States. We don't need a study to know that many divorces stem from financial uncertainty, and this is not only happening in Nevada, but also across the nation. As foreclosure rates have increased, the amount of divorces have also continued to increase.

Is there a correlation between divorce and foreclosure? Does foreclosure increase the likelihood of divorce, or does divorce increase the risk of foreclosure? The answer is both are probably true.

While Nevada does hold the title as the state with the most foreclosures and the highest divorce rate, the state also holds the highest unemployment rate. Certainly, this is a contributing factor to their high number of foreclosures. It's also important to note that financial problems and stress are the underlying reasons behind many divorces -- and foreclosures can create both. In fact, money-related issues are the number one reason for divorce. In a state with the highest foreclosure rate in the nation, it's therefore not surprising to learn that it also holds the highest divorce rate, as well.

Divorces create money problems -- two households are more costly to maintain than one. As a result, many divorced homeowners find themselves unable to stay current on their monthly mortgage payments, resulting in foreclosure. Nevada is also experiencing an increase in underwater mortgages and short sales, both of which could escalate the already urgent housing crisis in the state.

Which comes first, divorce or foreclosure? There is no particular order. A foreclosure could be the final straw in an unstable relationship, or a divorce and the ultimate lack of financial support could create financial distress. Either way, the statistics in the state of Nevada appear to show some correlation between foreclosures and divorce. It does not have to be that way if you both understand upfront what the process entails and make a plan together to fight for your dreams. You must also remember to take some time to enrich your marriage while navigating the frustrating white waters of the loan modification process. You may end up with both your home and a stronger marriage if you keep the lines of communication open and free of blame and hostility toward each other in the process. While it is difficult because of the high frustration involved in the process, it is vital to your health and relationship to keep a positive outlook.

Homeowners may be able to prevent foreclosure by renting a room, getting a second job, or by removing other debt. They also might qualify for a reduction in their mortgage principal, refinancing, or a loan modification based on their current situation.

Homeowners who are faced with foreclosure can save their marriage by becoming empowered with the right knowledge about foreclosure, the loan modification process, refinancing, and other alternatives and remaining positive and working as a team as they act as their own best advocates. Having a positive outlook, goals, and making plans for the future help to relieve the stress that comes with foreclosure, as does remaining committed to the family unit and its future by working together to change their current situation.

It is easy to spiral down in your relationship when facing a financial crisis, but it doesn't have to be that way if your keep your priorities in the right order. It is stressful for both spouses when facing the fear associated with the possibility of losing your home to foreclosure, and for this reason, it is best to come together as a team and support each other in the fight to save your home. Remembering what first brought you together, the effects on your family from both foreclosure, as well as divorce, and then working from that perspective is crucial to relationships facing any sort of hardship. Divorce doesn't have to be a part of the equation if you are aware of the fear, emotions and internal self-worth triggers that flare up during hardship for both men and women alike, if you make the decision to fight for your dreams "together" at the first sign of financial difficulties. However, it is even better to discuss and put a plan in place regarding these difficult topics long before you are faced with them.

Anna Cuevas, known as "America's Loan Modification Guru," has guided thousands of Americans in keeping their homes from foreclosure. A popular blogger (, Cuevas has been called a "superhero of the loan modification industry" and has been nominated for CNN's Heroes. She is the #1 bestselling author of SAVE YOUR HOME Without Losing Your Mind or Money