Then they would be able to regain the money in the house payments, not just give it away making the national dept larger. They would also be able to collect the interest on the mortgage and that could be used to fund a program for people in need of a helping hand due to one of life’s hard times. There are a lot of changes that could be made to help with this problem of foreclosure. But the biggest problem is one that can only be address by the individual, and that is greed. This country has turned on to money hungry sharks and people do not care who they eat to get the money.
I have seen and heard many people complain that when they attempted to get assistance from a company that is supposed to get them out of the foreclosure problems they are charged a large fee. A fee that they do not have. Now they are back to square one trying to figure out how to get out of the crisis. All the thousands of foreclosed homes should be offered to the home owner that have lost their homes. It should be a rent to own but at an affordable price.
Also, not everyone understands all of the rules an... ... middle of paper ... ... find a way out. If it means selling their house and finding a cheaper one, our government should help them do that. We say that we are so fortunate but if we were truly to unite and help one another more, this could be true. It is not usually the family’s fault that they have found themselves in foreclosure. It is usually by a technicality, a loss of annual income such as loosing a job, or an accident.
If we were able to take the mortgage out of the picture and make homes rent able and one day own able to the people that stay throughout the long term renting of the homes. This is a great way even for the government to hold property, but not forever. For the government to turn over the homes really give incentives for people to stay in the home and to continue to pay the rent for the home until the rent accumulate to the payoff of the purchase price. This way the government will have to market power to jump start the financial market and get everyone spending and investing for a better future. In the end, everyone wins and money will not be a issue in this foreclosure crisis.
I am cleaning offices, working flea markets and making hand made items for extra income to live on. I have gone without a lot of things that most people have, but it has not hurt me. I am independent and someday I will own my own home and probably pay for over half of it in cash. Maybe being a child of a child from the depression has taught me to have respect for money and be responsible financially. In closing, I will say that I really don’t think that there is one solution to the foreclosure problem.
More or less the people who are homeless and out of jobs now, have realized where they have gone wrong in their funds a... ... middle of paper ... ...ters into buyers through education and techniques, and then we will have buyers for the foreclosed homes. Overall, banks do not want to take back any more homes then they are able to do, therefore the investors are called in to help ease the flow of homes in any market condition. Realtors help price homes at reasonable prices forth the benefit of the seller. Banks have witnessed the largest error in their felid of expertise and have undergone many changes to heal it. The homeowners have to realize that for their own benefit, if they are educated in financial terms, they can be more aware of what to do in certain circumstances.
The consumers don’t pay close enough attention to where the products are made. Therefore, consumers are spending extra money and are causing outsourcing to thrive. The lack of knowledge Americans have on the subject of consumers affecting outsourcing is leading our country to economic stress but if we begin to recognize the issue, the jobs we could potentially save may be our own. First, we will look at an example of how consumers inadvertently continue to assist companies with outsourcing. The problem consumers do not realize is that by paying for some name brand products, we are allowing outsourcing to take place.
People are afraid, because of this crisis, to gamble with their mo... ... middle of paper ... ...age of it. If we could bring that back, and open it up to not only first time homebuyers, but investors and third and fourth time home buyers, we would have justice. Citizens of the United States of America adore the term rich. Spending their money on something that is over priced upsets Americans so much that they cease their buying to make a stance and start a movement, or what we would call the economic crisis. If we could give the people what they want, a home and being able to keep their hard earned riches, we would finally have a sane nation once again.
The idea is to buy as cheap of properties as you can, perform the necessary repairs and modifications, and then sell the properties for as of a profit as you can in the current market. In the real estate world, fixing and flipping, while popular and easy, is not one of the better looked upon strategies. In fact, to most banks and businesses, the fix and flip is downright dirty. Be prepared to face a lot of criticism, because some of it is actually founded. Many of the homes and properties that are for sale for cheap belong to families who are bankrupt, or who have to sell their homes to prevent bankruptcy.
They may have to cut back on some of their leisure expenses just to pay the bills. People may look for fi... ... middle of paper ... ... it’s a possibility that they would be living in that same house, at this present day, with all their family comforts they need without having to live from paycheck to paycheck as they do now just to keep their home. Recessions have come and gone all throughout history across the world. It’s all a part of the business cycle, but there are newer problems with each recession. This recession that the nation currently is in has caused several foreclosures of houses throughout the nation.