Proposed Solutions to the Foreclosure Crisis Essay

Proposed Solutions to the Foreclosure Crisis Essay

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Foreclosure is a growing national disaster in the United States. Every time you tune in to your local news, there is a new family whose house is being foreclosed. Every time you ride around the neighborhood, there is another house up for sale. There are several solutions to this increasing trend including cutting government spending and cutting funds towards unsuccessful government programs, devising financial plans to assist families by setting up payment plans that they can afford, getting communities more involved, more stimulus packages, raising the taxes of the wealthy to lower rates, and easing the limits on section eight housing.
Cutting government spending and cutting funding to the government programs that are unsuccessful would solve a tiny piece of the puzzle. Cutting these programs would save essential money that can go towards building new housing projects or funding more programs that could possibly lower rates for the families that cannot seem to get by in this bad economy. Money spent on building unnecessary statues and gardens like those consistently being built to beautiful parks and other attractions can go towards more homes and roads that lead to them.
If more financial solutions were available to families, they would have more options to choose from and lower rates because of competition between the different companies. Competition is the strongest factor between quality and cost. If a new company specializing in helping families afford their rent or mortgage payments develops, they will offer solutions cheaper than the other companies currently in the market. This could also lead to more affordable plans for low-income families because most of the financial plans set in play require over thirty percent ...

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...mportant things such as this in order to fund the building of new houses. If enough houses were built to satisfy the demand, the waiting list could cease to exist. Soon as a family was approved for section eight, they would be working towards getting themselves out of debt and getting back on their own two feet.
Foreclosure is not a problem that can be solved with a calculator or graph. It will take years and loads of hope to overcome this matter. Lending a helping hand can make all the difference between being homeless and living in a stable home. More money can always make a situation better if it was spent the right way. If communities stick together and government limitations are eased, this epidemic will someday be stopped in its tracks. It will not happen overnight but if these solutions are put into action, it might not be far away from becoming a reality.

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