Essay on Solving the Foreclosure Crisis

Essay on Solving the Foreclosure Crisis

Length: 985 words (2.8 double-spaced pages)

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Solving the foreclosure crisis will not be an easy task. I believe there is no quick fix or sure solution to fix this far-reaching crisis. There are however, steps that every individual involved in the foreclosure crisis can take towards improving the situation. People that the foreclosure crisis does not directly affect should still rethink their lifestyles as well, so that the crisis does not continue to grow.
The bail outs given to the banks were a candid approach to preventing the banks from failing, but there were still thousands of Americans failing as well. I believe the banks failing is a projection of the state of the American people. I think that if anymore stimulus or “bail out” money is given that it should be given to the people. The money wouldn’t have to be given directly to the people, but rather the banks that they owe money to. There are programs presently that help, but I firmly believe more should be done for the citizens not the banks. Allocating the money to the people will not save all of those in danger of foreclosure, but it would ensure the banks would receive more of their payments. There are people out there that are too far gone to be saved, but there are others out there that can be saved and need actions taken on their behalf.
I believe that some of the foreclosure cases are due to poor financial decisions. Buying a home is a large investment and for most a large debt as well. It is a purchase that should be made keeping several things in mind. Always keep a realistic budget on your mind so you don’t go beyond your means. Keeping up with the Jones should not be a priority, but rather keeping shelter for you and your family. Today a lot of people have wants that exceed their budgets,...


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...comfortable with who they are and their financial worth. There must be a line drawn between our financial means and our inner struggles to “fit in“with what we believe society should be like. There are several people and organizations out there that are more than willing to help people adjust to the new lifestyles that will need to be pursued in order to restore stability.
The foreclosure crisis is a wide-spread problem that cannot be solved swiftly or with one action. I believe the only way to fix the crisis is by everyone taking tentative steps towards a better financial future. Though this can be considered as a crisis, it should be looked at as an opportunity instead. It is a chance for all of us to take a step back and begin to discover again the basic necessities of life. Now more than ever is a time for simplifying your life and investing wisely.

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