Essay on How To Stop Foreclosure

Essay on How To Stop Foreclosure

Length: 995 words (2.8 double-spaced pages)

Rating: Strong Essays

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The best way to stop foreclosure is, to start treating people in foreclosure with respect, dignity and showing compassion to them, by reaching out with a more stream lined approach, based on a personal, financial, and attention to detail of the true crux of their given needs. The true reality is never addressed at the individual’s basic needs. It seems everyone is just lumped into this big vicious circle of a treadmill that keeps running in a gigantic depression of reality. The banks now hold a lot of the assets that are in foreclosure. If they would take a more humanitarian approach and create loan programs tailored to each home owner’s current incomes and economic status a large portion of these foreclosures could be manipulated where the homeowners would be allowed to stay in their homes. For example the customer service departments could be geared to provide training to their employees on solving the problem instead of putting fuel to the fire. The training they should be giving the employees is how to show empathy and giving them latitude to solve the problem. They should be coming up with innovative ways to re-finance, and restructure the loans and bending over backwards to allow the failing loans to be corrected. If they would institute a plan of say, five new ways to refinance based on current income, family size, marital status, interest rates and a realistic approach that we want you to keep your homes, the general public would be much calmer. The sad state of affairs is that there is no empathy left. No one has personalized the process with regards to helping folks save face and telling them it is ok and it is not there fault. We are here to work with you to reach a resolution that is good for you and for us. There a...


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.../index.ssf/2009/07/us_foreclosures_rise_15_percen.html>.
Shierholz , Heidi. "The Steep rise in unemployment continues." Economic Policy Institute (2009): n. pag. Web. 17 Dec 2009. .
Morello, Carol. "Millions More Thrust into Poverty."Washington Post (2009): n. pag. Web. 17 Dec 2009. .
"Obama Administration Plans New Effort to Battle Foreclosure Crisis." Fox News (2009): n. pag. Web. 17 Dec 2009. .
Saldinger, Adva. "Unpaid dues drive homeowner association foreclosures." State (2009): n. pag. Web. 17 Dec 2009. .

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Essay on How To Stop Foreclosure

- The best way to stop foreclosure is, to start treating people in foreclosure with respect, dignity and showing compassion to them, by reaching out with a more stream lined approach, based on a personal, financial, and attention to detail of the true crux of their given needs. The true reality is never addressed at the individual’s basic needs. It seems everyone is just lumped into this big vicious circle of a treadmill that keeps running in a gigantic depression of reality. The banks now hold a lot of the assets that are in foreclosure....   [tags: Economics, Mortgage, Housing Crisis]

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