Ending Foreclosures: An Economic Resolution Essay

Ending Foreclosures: An Economic Resolution Essay

Length: 1128 words (3.2 double-spaced pages)

Rating: Strong Essays

Open Document

Essay Preview

There is a solution to the Foreclosure Crisis. I do not propose that this is my own answer, but that it is born out of Love. The love for all my family and friends and the country as a whole is the reason for this proposal. Their fates and indeed the fates of our way of life in America depend on what we do at this time in history. The admiration and love for the foundation on which this country was established is an additional motivating factor. Needless to say we can neither turn our backs on all those who have shed blood and even given their very lives for the principles of our America. To allow this jewel of freedom and prosperity to falter and deteriorate would be the most monumental political plunder ever recorded. We can not afford to blow this opportunity.

First we should ask ourselves, why are we giving money to the same greedy individuals that are responsible for the predicament we find ourselves in? If the people must pay this money back, why can they not benefit directly from this economic package? At this point the President fully expects the people to repay the borrowed money through taxes. Through the money changers it seems the citizens of the United States, will be allowed to borrow their own money back at what will no doubt be at ridiculous interest rates. It is the people’s money, for we are the ones who are required to repay the loans. So the citizenry must be permitted to benefit.
In order for this proposal to go forward and be successful there is one thing that is of most importance. Every citizen must acknowledge and accept the realization that we are all aboard the same sinking ship. Our financial fates are inescapably connected.
Now to insure that this concept is given an even chance to survive an...

... middle of paper ...

Patterson, T. (2008). American Democracy. New York, New York: McGraw-Hill.
Paulson T. (2009) America Needs Reform. The Vancouver Sun, Retrieved From http://www.vcstar.com/news/2009/oct/12/america-needs-to-reform/
Reuters, T. (2009). U.S. Fed sees modest improvement in economy. The Vancouver Sun, Retrieved from http://www.vancouversun.com/business/fp/sees+modest+improvement+economy/2128797/story.html#
Salant, J. (2009). Voters Back Obama Over Republicans on Health Care, Poll Finds.
Bloomberg, Retrieved from

Varzi, M. (2007, August 17). A Debt Culture Gone Awry. New York Times, Retrieved from

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

Solving the Foreclosure Crisis Essay

- The foreclosure crisis is like a sore, festering, but treatable with the right financial remedy. Over the past couple of years, little has been done to prevent an economic downturn in the housing industry. With hard work, excellent financial planning, and most importantly, patience, the government and the housing industry will be able to overturn the rising foreclosure rates. The economic impact of the housing market has varied over the last several years. The housing bubble was created due to the increase in housing prices....   [tags: Foreclosures, ]

Strong Essays
1298 words (3.7 pages)

Foreclosures: Stop the Downward Spiral Essay

- Record high unemployment, declining home values, and a recessionary climate have plunged the housing industry into a downward spiral. It started with lenient mortgage guidelines that allowed millions of people to achieve the American Dream of owning their own home. Eventually they ended up living beyond their means. Adjustable rate mortgages came due and realizing that they could not afford the jump in mortgage payment, homeowners began to put their homes up for sale. There weren’t enough buyers to keep up with the supply, and mortgages began to go into default....   [tags: foreclosures,]

Strong Essays
1073 words (3.1 pages)

Proposed Solution to the Foreclosure Crisis: End Foreclosures Essay

- The foreclosure crisis in our country is a problem that is affecting many Americans today. This calamity has also had a negative impact on our overall economy. The federal government can make steps that would help solve this crisis that would benefit homeowners, potential homeowners, financial institutions and all people that have been indirectly affected by this issue. My first recommendation would be for President Barrack Obama to issue an executive order that would establish a moratorium on foreclosures for a period of one year....   [tags: Foreclosures,]

Strong Essays
1111 words (3.2 pages)

American House Foreclosures Essay

- The housing boom of the 1990s and low interest mortgage loans lead to droves of Americans purchasing homes which were out of their actual price range. Creative financing with variable interest rates and interest-only loans was the name of the game at financial institutions across the country. However, as interest rates began to climb, homeowners found it difficult, if not impossible, to meet their loan payment obligations. Delinquent payments were not tolerated by the banks and homes began to be foreclosed....   [tags: Foreclosures,]

Strong Essays
1309 words (3.7 pages)

What to Do about Foreclosures Essay example

- The foreclosure issue has been a tough situation for many people. Homes have been lost and dreams deferred. The problem, most people agree, is greed, and the effect has been the tanking of the housing market. But how does one solve an issue that is—whether we like to admit to it or not—part of human nature. How does one solve the “greed” problem. Since that may require more of a dissertation then a short essay, the other thing we can focus on is how to get suppliers to be equitable while still making a profit, and consumers to manage their money better....   [tags: foreclosures, USA, ]

Strong Essays
1070 words (3.1 pages)

Essay on Foreclosures: A Solution and A Silver Lining

- If you live in the United States and have access to a television or radio, then you are constantly hearing about the financial problems that are plaguing our country. Thanks to the media, most of the American public is aware of the current financial crisis, in its myriad of forms. Financial distress and instability has come to define this decade, and the government is scrambling to find a solution. The root of the instability is arguable. Many claim its beginning in the housing market, but behind that market is a banking and lending culprit....   [tags: Foreclosures, economy, USA, ]

Strong Essays
1929 words (5.5 pages)

Foreclosure Resolution Essay examples

- Foreclosure Resolution After reading about the foreclosure crisis and my parents almost becoming a victim of said crisis, I feel inclined to address the issue and support a resolution. Unfortunately, foreclosure has swept throughout the United States. Families with varying incomes have become homeless overnight. Though mainly less affluent families have been affected by foreclosure, there has been a significant number of middle-class families also forced to face the realities of foreclosure. The government has debated many and attempted a couple of options for reducing the number of foreclosures....   [tags: Economics]

Strong Essays
1494 words (4.3 pages)

Foreclosures: Stopping the Crisis Essay

- Although, I have not had to face the foreclosure crisis, I see it all around me since I am in Texas and we see it a lot. In my opinion, we can solve the foreclosure crisis with the participation of the lender and the banks to assist the homeowners in helping them to get back on track and hopefully be able to remain in their home and not have the home go into foreclosure. Most of the time when the home goes into foreclosure it seems to be a lot of heartache on most families and not to mention the additional work for the banks....   [tags: foreclosures,]

Strong Essays
956 words (2.7 pages)

Solving the Foreclosure Crisis: Require an Economics Class to Graduate High School

- My plan to fix the housing crisis would be a two phase plan. The first phase of the plan would be how to handle what is going on right now and what to do about the people that are already the causalities of this catastrophic failure of American free enterprise. The second phase would be on how to prevent this from happening again. The core of the first part of phase one would start in education I am aware that you need to take an economics class in order to graduate high school; a new requirement would be added to high school graduation requirement....   [tags: Foreclosures,]

Strong Essays
1263 words (3.6 pages)

Solving the Foreclosure Crisis Essay

- The foreclosure crisis is a serious problem. Recessions are horrible for society to endure, but when people are losing their homes all around, the confidence in recovery needed to fuel the economy is eroded away until it seems almost hopeless to end the economic slum. Unfortunately there isn’t a simple solution to the foreclosure problem. The best way to solve any problem is to know what causes it. Foreclosure is the result of mortgage loans being given irresponsibly to people that can’t afford them....   [tags: Foreclosures, ]

Strong Essays
1114 words (3.2 pages)