All of these experiences have given me a unique vantage point on which to base a solution for solving the foreclosure crisis. My four-pronged plan would favorably move our nation out of its immense predicament. On a personal level, however, my plan would help hurting families and individuals overcome the stigma of financial ruin, empower American homeowners to make better home-buying decisions and also improve the home-buying process. As well, however, this plan would help neighborhood...
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...eports. Yet, they still have the right to pursue a piece of the American dream – homeownership. Eventually, like me, they will recover from a financial hardship and be interested in purchasing a home. So, the process begins again. The local realtor is contacted. Homes are viewed and one is chosen. A mortgage lender is contacted. And a loan is entered into. Educational instruction on personal finance and homeownership undergirds the foundation on foreclosure prevention and reduction. Strengthening the educational foundation creates a firm base to expand and employ human resources and technological infrastructure, change underwriting practices and data processing processes, and update foreclosure legislation. With such actions working in tandem, the foreclosure crisis in America can become part of our nation’s history – not our ongoing and inevitable future.
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- Economics, we as a group have responsibilities to ensure there are checks and balances. The statistics are over whelming. Who should be foreclosed on, who are making an attempt to continue payment. Lenders whether they are a bank or mortgage company need more compassion not greed. Are the homeowner’s really bad people or people of misfortune. What are the available options, where can a homeowner go to receive them. Those who are irresponsible, non responsive should be held accountable to go forward with foreclosure and commend those who are responsive and responsible with compassion.... [tags: foreclosure, economics]
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