Did this hypothetical widow borrow the money?
If so, then yes.
A foreclosure will severally hurt your credit rating but you need to avoid using credit it costs you more than you can earn in the long run due to interest. Just save to buy what you want.
Yes, definitely there is a life after foreclosure, you should find a reasonable place to live, and clear all your debt under your name. Remember that the foreclosure is an outcome of whatever underlying crisis is going on in your life that either impacted your income or caused expenses that made your mortgage unaffordable.
No
Going thru a foreclosure is very hard on a family. You can be foreclosed on in as little as 90 days.
Fixed assets are going to be a stable source of income over a period. Variable will change in price over a given period. Where variable can bring a higher rate of return fixed will always bring a steady sure rate of return.
No. Who knows if the foreclosure will actually happen? Besides, the federal Protection of Tenants in Foreclosure Act give the tenants at least 90 days to get out, after the foreclosure sale.
Yes, by paying the back payments. Also, filing bankruptcy prior to the foreclosure will normally put a hold on the foreclosure proceedings.
My house is going through foreclosure. My biggest need is money to move and finding a place to rent.
By paying your mortgage payments on time.
You need to go to your economic office as soon as possible to apply for disability income.
Are you willing to relocate? You should start by going to your local city hall and ask about their low income housing program, and other government aid program.
There are several places online like Stop Foreclosure, Md Hope, Portal Hud.Gov, and Hope Now. Try going to a local HUD housing company who should help out with foreclosure problems.