How To Fix The Foreclosure Problem

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As foreclosure becomes a major problem in America people are looking for a way to save their homes without completely losing everything. Owning a home with a white picket fence is the American dream but in recent years it has become more of a nightmare. One way to fix the foreclosure problem would be to use social security as way to help pay for the debt they have accrued. Social security is set up to help Americans when they retire and also to help them in troubling situations such as, insurance for disability, veterans insurance, food stamps, unemployment insurance, and other forms of welfare. The government could use the social security fund as a way to help people out of debt and help save their homes from foreclosure. A plan that uses social security money to help people out of debt could be set up as a loan with a low interest rate attached. This loan could have a form of collateral attached in order to create a program where people are not just taking money with out responsibility and understand the value the given money carries. In order to determine what amount of money people would receive, a figure could be estimated based on their current jobs and how much they are estimated to receive from social security by the time they reach the age of retirement. This amount of money would equal their amount for their loan to help pay off their debt. Essentially people would be barrowing their social security money but would eventually be paying it back. Ideally when they go to retire they would not have lost any of their social security money. The loans must only be used to pay back debt on ones home and if used on something else, such as car payments, or are not paid back, then the person will receive less money then previou...

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...just as welfare helped people during the great depression, this new plan could help people during this extreme recession. It is so important to keep people in their homes and not on the street and with help from our government and each individual taking responsibility for their actions, the amount of people facing foreclosure can decrease. Every American wants to know that they have a place to go home to and to call their own. For many people placing their homes up for foreclosure was something they never thought would happen and it is easy to say what one would have done to prevent this. As American we must stop blaming and looking at what has happened to the housing market and start planning on ways to fix this situation. Our country should take the resources we have now in the present, and create a plane to insure that every person is taken care of in the future.

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