ArnoldCountry

You Want to Save the Housing Market? Don't Fight Foreclosures

I find your aritcle factual... but missing one very important glaring point. Our government and mainstream media cannot tell us the truth. If Obama were to come on the television today and state that the government was not going to do anything, foreclosures are a necessary correction and all of these folks underwater would be better off walking from their houses and become renters, the financial markets would completely collapse in a month.

It reminds me of Jack Nicholson in a Few Good Men... you can't handle the truth!

Truth is, they are trying to contain a disaster and try to bring consumers back to buying homes, using credit and buying goods to stave off a collapse.

In my practice, I tell consumers each day that are in an underwater house that they are struggling to pay for of which their lenders offer little to no assistance... what are you fighting for? You can make a home anywhere, home is about people and families, not brick and mortar. If you are hurting watch out for your family first, if you have to walk from the house and rent for cheaper because it is in your families best interest, just do it. The credit hit will be for a few years and when you recover you will be able to buy a similar home in the future for about half what you owe on your current place.

However, you will never hear that kind of advice coming from our government or mainstream media. Instead you hear about personal responsibility. Dont shame these folks, their personal responsibility is to provide for their families, the rest can be cast aside.