4 Keys to Beat Mortgage Stress

These 4 Keys to beat Mortgage Stress are pragmatic, real world based techniques to help you successfully overcome your current challenges, not just nice sounding platitudes.

1 - Stop Blaming the Banks.

Blaming your Bank for your current Mortgage payments will not alleviate your problems in any way, but it will increase your blood pressure. Some Mortgage Brokers have a bad habit of shifting the blame onto the Banks for every new problem. The latest scapegoat is your Interest Only Loan. By focusing your anger onto the Bank, you are wasting your much needed emotional energy to create positive solutions.

2 - Engage an Accountant who is a Money Coach.

You can get on top of your current Mortgage payments, provided that you have a Money Coach. Your Accountant needs to act as your Coach in the Money Game with you, not just as a Commentator observing the pain of your game from a glass, air-conditioned Ivory Tower. Your Money mentor needs to be in the Coaching Box on the field with you. If your Accountant is distant and uncaring, then maybe you need a new Budgeting and Success Coach.

3 - Create a Financial Plan.

Your Accountant or Financial Adviser should assist you to create a Financial Plan. Initially this can be a 12-24 month program, with dedicated weekly, monthly and yearly goals. Where some Plans that are created by Accountants with a 'bean counter' approach go wrong, is that the focus revolves primarily around negatives."You can't do this anymore, stop spending on that, no more fun for you, tighten your belt.' Before long most people put this type of Plan in the too hard basket. Your Plan needs to have a healthy balance of positives, it needs to inspire and motivate you to achieve success.

4 - Resolve conflicts with family and friends.

Recognize that the root cause of much of our personal conflicts comes from the money pressures that we are all experiencing. Look for ways to create peace with family and friends, you need their love and support, not their resentment. Forget about trying to get everyone to do what you want, instead help others to achieve what they want.