Alcoholism and Foreclosure

Posted in Resources

Alcoholism and ForeclosureForeclosure is becoming quite common in these difficult economic times. Many people are finding it difficult to meet expenses and make mortgage payments amidst widespread unemployment, rising energy costs and the decreasing purchasing power of the dollar. Add to this the collapse of the real estate market and many houses are not even worth what their owners still owe on them. Many owners are reluctant to sell their houses for their decreased value, and as a result many houses sit unsold on the market, sometimes for years. If a homeowner cannot make the mortgage payments and get a reasonable price for her house, the bank may foreclose on the loan, in which case the homeowner has lost all her hard-earned equity.

Does Economic Stress Cause Alcoholism?

Under these difficult conditions it is easy to become overwhelmed by worry and stress. It is also easy to understand why many people seek escape in alcohol abuse. Alcohol is a sedative with a numbing effect, so it can ease stress and make people temporarily forget about their problems.

Does Alcoholism Cause Economic Stress?

Unfortunately, temporarily escaping your problems often makes them worse in the long run. Escaping into heavy drinking often results in increased financial hardship, and those who drink excessively may experience a host of economic consequences. For instance, a heavy drinker will spend large amounts of money on alcohol. Heavy drinking can cause problems on the job and may lead to unemployment. An arrest for driving under the influence will result in fines, legal expenses and possibly jail time. In a worst case scenario, causing an accident in which someone is injured or killed will lead to an enormous amount of trouble, including legal and financial responsibility, civil lawsuits and possibly prison time. Aside from a lifetime of guilt and remorse, the legal expenses from such a situation can lead to financial ruin.

Any or all of these consequences of heavy drinking can push people over the edge of sanity, especially those who are already in a precarious financial position. Those struggling to make ends meet will suffer even more devastating economic consequences from alcoholism, as they may not have the money to make mortgage payments. Eventually alcoholics may become homeless if they do not check their spending habits.

Help for Alcoholism and Foreclosure

Continued alcoholism will only lead to increased financial difficulty and may result in disaster. You may discover too late that your alcoholism has cost you everything enjoyable about life. However, conquering your alcoholism will allow you to regain control over your life and survive the current recession with your assets intact. Treatment for alcoholism is much less expensive than bankruptcy, foreclosure and homelessness. Furthermore, most insurance plans cover treatment for alcoholism, so in almost every case treatment is the most cost-effective option.

If you would like help finding treatment for alcoholism as well as financial counseling, call our toll-free, 24 hour helpline today to be connected with experts who can help you get back on your feet.