Solving the Foreclosure Crisis Essay

Solving the Foreclosure Crisis Essay

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Upon the news of the 700 billion dollar bailout for Wall Street, on some level, there was outrage among the people. Not that it wasn’t a good thing to save companies that would have likely caused even worse problems for the economy than what already exist, had they been allowed to go under, but the oft repeated question was “While there’s a bailout for Wall Street, where’s the bailout for Main Street?” The common man who’d strived hard his entire life to make an honest living found himself feeling left out of that plan, while large corporations—many of whom engaged in not so ethical practices to propel themselves to the top, also cause their own downfall—seemed to be getting all the breaks. Meanwhile, the every day man became a face in passing among the stories of millions hit hard by this failing economy. As his hard earned, honest living began to fade away from him, the very place where he rested his head became jeopardized. One recurring theme that has been heard from the time the foreclosure crisis made the news, through its deepening and widening, on up until now is how the people affected had no business getting in over their heads with houses that they knew they couldn’t afford. An honest look at the situation reveals that yes, there are many who dug themselves into a hole by trying to live a lifestyle that was not within their current means. That is understandable. However, that is an extremely broad brush to paint every person who has been affected by the crisis. Aside of the personal accountability aspect, many different factors go into a person suddenly finding themselves unable to afford their own home. Family emergencies come into play, job loss—another issue that threatens the quality of life for many Americans—can c...


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... stories where in certain cities across the country, the foreclosure crisis has gotten so bad that sheriffs are now refusing to evict tenants from their homes. This crisis is so deep that it is not only affecting owners, but even renters who have dutifully paid their rent who have no idea that the property they reside in has been foreclosed. At this rate, there will be a homelessness crisis—bigger than the problem that already exists—while there are an excess of houses sitting empty and pretty soon showing all the signs of a place that has fallen into abandonment. To have that happen is no solution to this issue. Instead, try examining people’s situations from where they currently are and work to assist them from there. It is better to make a new start when you have a foundation to make a start with, than it is to have to start all over again with nothing at all.

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