The Foreclosure Crisis

Everywhere you look you see homes being foreclosed. On TV you see shows displaying the way buyers are benefitting from “short sales” of foreclosed homes. Commercials on radio programs give an 800 number you can call to get listings of foreclosed homes in your area with payments as little as “$120 a month!” No one ever thinks of the owners of the house they are fantasizing about living in. The reality is that families are being put into the streets with nothing, and the government, banks and community are just waiting to pounce on the only thing they had. Many families were in these houses their whole life, and lose the memories of family holidays by the fireplace, family dinners in the dining room and being read bedtime stories by their parents when they were children. Unfortunately, there is no solution to help these families in their time of need. I have thought long and hard about a solution to this problem, and although I could not solve all the problems, I have figured out how to help these families get back into their homes.

In many large cities, I want to convert abandoned buildings into 150 family transitional housing units. These buildings would primarily be for the middle class because these people are the most affected by foreclosures. These buildings would be made into two and three bedroom apartments and would have mandatory classes twice a week on topics such as financial planning, counseling services, transitioning back into outside life and insurance. All the topics would be relevant to their housing issue and would also help them stay positive during a time when they may become depressed. The rent for the apartments would be minimal, and residents will be forced to match the amount of rent in a savings account e...

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...e families will also try to work had because they know that they have the chance to get their homes back. Staffing the building will also increase the number of jobs available and will lower the unemployment rate. Admission would require an application, and I’m sure that a large number of people would apply for the program because of all of its benefits. There would be some people who may be upset that it cannot accommodate all of the families who have been displaced, but it would help a great number of people and portray the U.S. Government in a positive light for offering a solution. There will also be some people who aren’t committed to being in the program, many of which can be weeded out in the interview process of the application. While the foreclosure problem may not be over for a while, at least there is something we can do now to help those affected by it.