Here’s a look at 4 reg flags that might indicate your financial habits are in turmoil and that your mortgage will be in trouble very soon. If any one of these describes your current situation this should raise concern. If you find yourself in a position where you’ve done more than one or all of these things than it’s critical you meet with a financial specialist and see if you can straighten out your life as any day now you will likely hit rock bottom.

1. No Money for Maintenance
If things are breaking down in the home but there’s no money to be found to fix them, this is a sign your money is too tight. As an added penalty, all those repairs needed ultimately bring down the value of your home until they are fixed, and it is not rare for one problem to lead to another, more expensive problem.

2. Needing Cash Advances To Survive
If you find yourself getting a cash advance to pay for your groceries, your power bill, or worse yet, your mortgage itself – and doing this often, this is a huge red flag that you’re in danger. Not only does it indicate a lack of financial reserve, but every cash advance is a small loan to be paid off and they are almost always attached to a horrifying interest rate.

3. Cashing Out Your IRA/401k
Pulling the cash out of your retirement fund not only robs you of precious dollars (and the loss of interest on those dollars that otherwise would be) for your retirement, but it’s a warning sign that you do not have the money to pay your bills. Usually this is the last step people take before losing their home so if you’re at this point, your mortgage is probably teetering on the edge.

4. Your Credit Cards Are All Full
Credit cards give us easy access to money which obviously gets a lot of people into trouble. If the credit cards are all maxed out because you didn’t have the money around to pay the bills, this is dangerous in two ways. It means you’ve lost your easiest source of loaned money and it means you’ll be paying a lot of money in the the form of loan interest.

By Wardrobe Closets and Home Editor, DeAngelo Sage.

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