Accountancy’s Mary Sasmaz warns foreclosure can make life more expensive for homeowners

Foreclosures Are on the Rise. Here's How to Avoid One

U.S. News & World Report: Mary Sasmaz, assistant professor of accountancy at Weatherhead School of Management, said foreclosure can severely damage a homeowner’s credit, making other aspects of life more expensive. She advised struggling homeowners to act early, noting refinancing may help some borrowers and selling an unaffordable home can relieve significant financial pressure. Foreclosures have reached a seven-year high.