Unfortunately our culture has become a material society, holding a “look at me” attitude. In order to feel good about ourselves we need to show others, as well as ourselves, how well we are doing by buying a bigger and nicer home, a fancier car, go on extravagant vacations or taking one we know we really can not afford and making sure our co-workers and friends are aware of this wonderful life we are trying to portray. Therefore, I really can’t feel bad for these individuals. In my eyes they did not prepare for emergencies. They chose to live outside their means and
had or chose not to think ahead. They had failed to take into consideration the “what if(s)”. “What if I lose my job? Will I be able to afford this mortgage until I can find another job?” “What if I get sick and can not work for a while? “Can I afford or manage my debts until I can return to work?”
I know not all those who have had to go into foreclosure fall into the above category. There are also many individuals that did everything right. They took into consideration the “what if(s)”, however they still got sucked into a lousy and unfair mortgage, they lost their job or had fallen on bad times for one reason or another. I also happen to fall into this category, although thankfully I am not losing my home as of yet. I have lost my employment, I am in an A.R.M and my home is upside down. I made, as much as I could, sure I had enough monies in a saving plan to cover
my mortgage for several months. I had re...
... middle of paper ...
...r own realistic means, however when the consumer is naïve, is given false information, and encouragement just for others own self gratification and financial gain we our bond to end up with our current foreclosure situation. We as consumer needs assistance and financial education. If most of the American population can manage living on a monthly income less than two thousand dollars then I think upper management, the entertainment and sports industry, and government officials can
live under three or four thousand dollars a month. This would fund not only the new departments I stated above but also fund a assistant program for these families that have already lost their home prior to the government stepping in
with different assistant programs. This may not be a very creative idea in resolving our current foreclosure rate but it would defiantly help resolve it.
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