If you're in danger of losing your home or the burden of carrying your mortgage is overwhelming, that should be one of your first considerations when working your way out of a financial black hole. Palms says keeping a roof over your head while finding a way to manage the debt can be tricky but not impossible. The solution is very much dependent on the circumstances.
"It's very important to deal with people who have experience in the field and understand (your situation)," she says.
Palms says the key is to find a real estate agent or an attorney specializing in working with troubled homeowners. This is not the time to rely on your brother-in-law's advice.