Monday, January 16, 2012

I just Don't Get It, Mortgages, Forclosures, and Homless

I am very passionate about all things; on the front burner these days is the housing market and the foreclosures happening all around us. It really makes me sick, I just don’t understand how the banks don’t see the ripple effect that this is having. In my small part of the world alone, there are so many homes vacant that no taxes are being paid, that means no money for hmmm let’s see, the police and fire budgets, the school districts, roads and snow removal the list really can go on and on. No wonder the government is broke and wants to raise taxes. Would it not be smart to try and make it work with homeowners, I’m sure they want to keep their homes. Now please understand I don’t understand a lot of the inner workings of the financial system but wouldn’t the banks rather be getting paid for a home rather than have it sit there vacant? I just don’t get it, right is right.  Now we’ve bailed out the banks after they caused this whole housing mess and still these SOB's won’t return the favor to so many Americans facing foreclosure.  It’s unbelievable really! They will settle for less then what’s owed on the loan through a short sale to put people and children out of their homes, but won’t work out new loans for those looking to make good and keep their homes! I have heard stories on top of stories all sounding too similar all from different people from different areas dealing with different banks.  They’ve tried to work the mortgage company who claims they DO want to work something out. All to have hours of phone calls logged with no progress.  Mortgage companies claiming lost paper work, things not being followed through properly, different stories each time, no consistency,  can’t talk to the same person twice, they always have to talk to someone else... its a mess of nonsense. 

Mean time you have people who CAN who WANT to pay their monthly payments but the mortgage companies refuse payment because its less than the amount due.  REALLY? Why take a loss of nothing rather then something? It’s fueling the mess.  I was always taught something of something is better than nothing. Here is our take on an Easy solution to STOP people from losing their homes. Insist these banks work with homeowners so people will want to spend money on renovations and pay their property taxes.  Does this seem too easy of a solution here? There must be something more right? Why else would this problem be persisting? WHAT IS THE PROBLEM? If you’ll take less on a short sale then take the same loss on rewriting a contract with homeowners reflecting the new value of their home and everyone is happy.  Sure the mortgage banks take a loss but they would have taken that loss anyway.  Mean time they’ll be less people and children displaced and more money being pushed through the government. I’m sure almost every one of us knows someone who is on the verge of losing their homes. I think we need to put a face to this problem, it is the face of children having to be uprooted, women in the dream homes be it a one bedroom or five, seniors who have lived, loved, and laughed in their homes, have raised children.  The greed of our banks are taking our memories and our security and sense of safety away, and I’m just not sure they get it.

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