There are few things in life as serious as mortgages, so when you’re looking to buy a home and weighing up all of your options you can easily get overwhelmed. Finding the lowest mortgage rates or those with the best terms can be even harder than the search for the home you want to buy, and since mortgages generally stay with us for 30 years or so it’s not something you want to take lightly.

Our credit scores are one of the most important numbers that we’ll carry with us through our lives, and anyone who’s applied for a mortgage will already know how much weight they hold in the world. So, what about once you’ve already gotten a mortgage and are then looking for financial help in another way? Does having a mortgage help you credit or hinder it?

When you first enter into a mortgage, the last thing you want to think about is foreclosure, but unfortunately, this process is a reality for some homeowners. Foreclosure is what occurs when the lender seizes the property, evicts the homeowner, and then sells the property, and this happens after a series of missed mortgage payments.