Essay on Solving the Foreclosure Crisis - 998 Words

The American Dream promises us prosperity for all people. As children, we are told to own a home with a spouse, 2.5 kids, and a dog. This symbolizes social and economical status. However, with the recent economy down spirals, unemployment reports are almost being overshadowed by reports of foreclosures, while sweeping our so called â€Å"American Dreams† and ownership privileges right out of our front doors. It seems that in a crisis no one person wants to take the blame for the other. The government is blaming the lenders, the lenders are blaming the borrowers, and the borrowers are blaming both the government and the lenders. The truth of the matter is the blame is not encouraging a resolution. The solution to a crisis of this†¦show more content†¦So the number one duty on the list of a homeowner when he or she is experiencing hardship should be calling their lenders and negotiating or requesting a loan modification. These modifications typically were reserv ed for borrowers whose mortgages became delinquent because of job losses, divorce proceedings, or illness. Yet, today is a new era, modifications are being offered to individuals suffering in the result of rate mortgages increasing. Loan modifications will allow the homeowner to find a more affordable mortgage payment for his or her financial need, and will help them remain in their residency and instead of looking for a new loan, buyers will be able to modify the terms of an existing loan. If the homeowner does not feel that this financial hardship will last an extended amount of time he or she is able to request forbearance or a postponement of payments for a couple of months are available. Why this solution works? Well, because it benefits both the borrower, and the lender. The homeowner receives a small break in his or her finances, while the bank does not have to worry about the buyer defaulting on the entire mortgage and enduring foreclosure procedures. However, the lenders need to do their part. Until recently, loan modifications were the banks best kept secret. Homeowners were not aware of the criteria banks were using to evaluate loan modifications for approval. During this process, the lenders will negotiateShow MoreRelatedSolving the Foreclosure Crisis 1107 Words   |  5 PagesSolving the foreclosure crisis is not an easy quest. In order to solve the crisis, it will take everyone getting involved. The banks and other lenders need to be willing to work with people who have been in their homes and need to have their loans restructured or refinanced. There should not be any more QUICK FIXES. Too many of the lending institutions are trying to put a bandage on an open wound. Instead of working with the homeowners, they are willing to put the residents out of the homes and thinkRead MoreSolving the Foreclosure Crisis 972 Words   |  4 PagesIn order to solve the foreclosure crisis, first we must identify and examine the reasons why people are going into foreclosure. The unstable economy which has led to the loss of thousands of jobs is the most obvious reason that people are foreclosing their homes. Without a stable and sufficient source of income, it is virtually impossible to pay back mortgage lenders. The first step we should take to solve the foreclosure crises is to create more jobs so that people can pay their mortgages on timeRead MoreSolving The Foreclosure Crisis Essay985 Words   |  4 PagesHome foreclosures have been a hot topic in recent months as the economy has been in a serious downfall with a very slow recovery process. There are many different philosophies and many people truly feel that we can recover from this. We can alter the foreclosure status by giving serious consideration to the economic times and the types of mortgages that are available. Buyers must become more educated on the additional costs when getting a mortgage such as taxes, insurance, etc. The governmentRead MoreSolving the Foreclosure Crisis 1156 Words   |  5 Pagesâ€Å"Foreclosure filings were reported on 336,173 U.S. properties in June, the fourth straight monthly total exceeding 300,000†¦Ã¢â‚¬  Brooklyn, NY – December 30, 2009 Foreclosures continue to rise drastically across the United States due to the recession, and have effected, and continue to affect thousands of families and individuals every day. One aspect we must take into consideration is that most people are not informed of what foreclosure means, or the process, even those who are homeowners.Read MoreSolving The Foreclosure Crisis1012 Words   |  5 PagesThe current foreclosure crisis is affecting everyone in this nation. If people are not experiencing the crisis firsthand, they hear about it through family, friends, and their other social networks. Nonetheless, it is impossible to escape because the media is constantly showing coverage about it. People are becoming more aware and seeing how expansive the impact is through television, internet, print, and radio. Americans are quickly realizing the impact the foreclosure crisis is having on theRead MoreSolving the Foreclosure Crisis 979 Words    |  4 PagesOne way to solve the foreclosure crisis is to actually foreclose on every homeowner’s home loan, including the homeowners in bankruptcy, pre-foreclosure and post-foreclosure. The credit report of these homeowners should read as a recession in 2009 and it should not lower their credit scores. The banks should then match the previous interest rates to the interest rates of today and appraise each home and property at the value that it was assigned by its local tax assessor. By doing this it willRead MoreSolving the Foreclosure Crisis 1578 Words   |  7 Pagespotential loss breaks down as follows: Loss from sales price: $200,000.00 5% Commission: $10,000.00 3% closing cost credit: $6,000.00 Repair credits: $1,000.00 Foreclosure fees: $50,000.00 Total loss $267,000.00 Case number one: For those whose income has not had any major variations from the time they initiated their mortgage, but are finding themselves unable to continue their payments because of anRead MoreSolving the Foreclosure Crisis Essay1092 Words   |  5 PagesThe foreclosure crisis was one of the harbingers of the coming economic recession. This was the issue that shifted the focus of the 2008 presidential election from the Iraq War to the economy. As one can imagine, many individuals and families are currently hurting as a result of this foreclosure crisis. High unemployment rates and lack of job creation leave very few options for already struggling homeowners. Because the housing industry composes such a large part of the American economy and affectsRead MoreEssay on Solving the Foreclosure Crisis 969 Words   |  4 PagesThe current foreclosure crisis that our nation is experiencing has become a great hardship on many people in America. People that have lost their jobs due to cut backs, people with families for whom they need to provide shelter, people who are otherwise very responsible but have been put in a position from which they cannot escape, these are the people that are suffering. Normally if one could not afford to make payments on their mortgage, there would be ways for them to refinance their mortgageRead MoreThe Solving The Foreclosure Crisis933 Words   |  4 Pages The foreclosure crisis, which tragically happened several years ago, stole away the homes from countless Americans and left them high and dry. These Americans were not even neglecting to pay for their mortgage on purpose; the economy took a drastic downfall and took all of those unshielded Americans with it. Now, these Americans are left with many questions that are unanswered – until now. They still have the chance to improve their credit, test out their dream home, and thrive in the current reasonable

The Art Of Giving And Accepting Sincere Apologies - 846 Words

The Art of Giving and Accepting Sincere Apologies By Raymond Ehoma | Submitted On June 18, 2011 Recommend Article Article Comments Print Article Share this article on Facebook Share this article on Twitter Share this article on Google+ Share this article on Linkedin Share this article on StumbleUpon Share this article on Delicious Share this article on Digg Share this article on Reddit Share this article on Pinterest In its most basic expression - a simple, yet sincere apology satisfies many situations. No matter how effective your communication skills, how sensitive you may be, or how compatible or in love you might be with your spouse, sooner or later you are bound to do something that will either hurt or embarrass your partner. How then do you know when you have wronged your partner and to sincerely apologize? An apology need only be made for something that in retrospect the giver sincerely intends not to repeat. It means taking responsibility for something that you genuinely feel remorse over and intend not to repeat. A sincere apology has the power to heal a world of hurts. It is a magic wand that can melt the hurt and restore your relationship. Saying I am sorry and meaning it is a miraculous healing tool. Nobody is perfect and we are all bound to make mistakes, fail occasionally and sometimes even harm other people. It is necessary to understand that while we are capable of making changes in our behavior, we have very limited power to change the behaviorShow MoreRelatedComparison Between Japan and Russia13811 Words   |  56 PagesUncertainty Avoidance 27 Masculinity 27 Long-Term Orientation 28 Doing Business 29 Meeting and Greeting 29 Japan 29 Building Relationships, Communication 30 Meetings and Negotiations 30 Entertaining 32 Gift-giving 32 Conclusion 35 Sources 36 General information about Russia and Japan Japan Background In 1603, after decades of civil warfare, the Tokugawa shogunate (a military-led, dynastic government) ushered in a long period of relative politicalRead MoreTEFL Assignment Answers23344 Words   |  94 Pages â€Å"Writing/Discussion exercise.† I am a fan of the visual artist Kehinde Wiley. His art is vivid in color and quixotic in color. Therefore, these visuals are able to spark emotion and subsequent discussion from those that view his pieces. 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Two Cause and Effect; Evaluate Their Logic Free Essays

Ciearra Black November 4 2010 I thought that the book Jim Thorpe, was a good book. I thought that it was good that the main character Jim Thorpe was in the Olympics because it kept him fit. It also was not good for the Olympics to take Jim’s trophies away because he did not deserve it. We will write a custom essay sample on Two Cause and Effect; Evaluate Their Logic or any similar topic only for you Order Now But I thought the end of the book was good because he became the best athlete in the world. It was good that Jim was in the Olympics because it kept him fit. He was an active man I tell you. He was an expert in all of these sports baseball, football, wrestling, field and track, boxing, golfing, swimming, and shooting. He was always running and stayed in several different sports. Also Mr. Thrope was well at all sports he played in. The Olympics took away Jim’s trophies away because in the summer he playing baseball for fun and the coach told him they would give him fifteen dollars a week for playing and he thought well fifteen bucks can get me something to eat so he took the money and later on the Olympics took his trophies for the simple fact that Jim had violated the amateur code of the Olympics. I didn’t like that they did that because that’s just bogus and they offered him the money so yeah he’s going to take it. Plus he needed the money to eat for the week and stuff so he deserved to have the money. I liked that he became the best athlete in the world, at the end of the book. He became the best athlete in the world because he was good in so many sports and won so many trophies. He was known worldwide. He was known worldwide because he was a professional athlete and he was so well known that he played baseball, football, he swam, wrestling, golfed, boxing, and plenty more also. The book, Jim Thorpe, was very interesting I thought. It was interesting because he always did more than one sport and all the sports he did participate he was amazing in all of them. He was amazing at what he did. Everybody liked the way he played his sports. How to cite Two Cause and Effect; Evaluate Their Logic, Papers