Short sale my house Villains are Rich and Poor!
Millions of homeowners had high-paying jobs and lots of savings and lots of home equity when this economic mess started. Congratulations. And, a special "shout out" to those of you who still do.
But, millions of other American homeowners had not achieved such a lofty place financially when the recession hit. Some of them are young and just getting started on wealth-building. Some are less fortunate, less well-connected. Some are in the midst of personal problems such as divorce or death in the family or are sick themselves. Some of these folks are distracted form wealth-building by interests such as church or the environment or helping victims of domestic abuse, etc. Some just have vocational priorities like teaching or preaching, that don't pay very well.
Then there's the millions of other American homeowners who foolishly believed that they could have it all - they participated in the scam that foolishly, greedily and sometimes fraudulently lenabled them to buy and occupy homes way above theri means. Their kids even went to schools in these better neighborhoods. Shocking, no? Unfortunately, no one is showing much sympaty to these folks.
There are heroes and villains, struggling with foreclosure, in each group. In my work as a foreclosure consultant I get on the phone and across the table from hundreds of struggling homeowners each month. 'The vast majority in three groups are heroes - Americans just trying to extend our heritage of restlessness and hope for a better life for our families.
I cringe when I hear "industry tools" pander to smug viewers by blasting the members of the financial lower class. I have met just as many housing crisis villains in Manhattan Beach as in Compton. And, I've met some real heroes, folks who've done everything right and acted sincerely and still got caught in the meltdown...some in LA and some in Palos Verdes Estates.
So, lighten-up on snootiness. Let's clean-up the mess but be fair. The blame game should be blind to socio-economic class. Because the blame's all around.
Rockwood is a frequent guest on radio and TV and is an outspoken advocate for homeowners in foreclosure. Want insider tips on getting Mortgage Modification? Visit Rockwood's site about DIY Loan Modification at Home Loan Modificationshort sale my house: short sale my house ma
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