Becoming unemployed is humiliating enough, and knowing you need a roof over your head to receive the food, heat, water you need to make the impression it takes to be hired for those few and far job opportunities that 30 other people also applied for. Everybody is feeling the crunch. Companies are downsizing and not to even be sure they will be there in three months. This leads to layoffs, increases in unemployment and if we are lucky enough to have a retirement we take out the money to save what we worked hard for. Withdrawing a retirement does come with a price, but if you are homeless by the time retirement comes, it is very hard to come back. You take retirement to lower or pay off debt payments for the month. Yes!! Pay off that credit card, the line of credit, your auto loans any outstanding debt you may have knowing your retirement could not cover the entire mortgage, start eliminating other debts and fear when the money is gone where are you going to get more. So now you have taken out your retirement and due to this, you are no longer available for unemployment services, you appeal, could take 6 weeks, there is another month behind on y...
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...ent. That is what it comes down to; a person is only a good as their word. Go back to the 1800’s, it worked then, it can still work today.
When the crisis becomes better, as homeowners become employed, more opportunities arise, contact the homeowner. Offer them options to square away history, maybe to refinance with a fresh start and lower interest rates on the amount remaining on the loan. For those who bought a high dollar home when their employment allowed, offer them alternatives to give the house back to the Lender and offer possibilities for a more reasonable home that their income will allow. Many will, if haven’t already, swallow their pride and accept it. This crisis will work itself out and they can move up again. Many of us are more responsive to compassion other than intimidation. It is easy to have a problem, it is better to help aid a solution.
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