Borrowers if you’re in Distress, you have to help yourself
by Tran, Harry ~ November 13th, 2008. Filed under: My Writings, Rants n Raves.My buddy Anthony over at Your Mortgage or Your Life wrote an eye opening article that serves to benefit anyone whose a distressed homeowner out well.
If you’re in a situation where you may lose your home or are just interested I recommend that you take a read.
Message to Distressed Homeowners at Your Mortgage or Your Life
I agree with his point that Anthony made in regards to the general feelings towards distressed homeowners is often ill-will and anger. We look towards those who were misguided by lenders as incompetent or lazy, and just looking for the easy way out. But in fact I believe that we don’t see enough of the picture to assume this belief.
As our country was fighting for our next President, our Congress was also fighting for a huge bailout bill that was promised to be the savior of homeowners in trouble with their mortgages. Well the bill has been passed, the banks have been paid off, yet only a small dozen of families actually got any help from this bill. Which goes to show that these people indeed got screwed over too.
Before the bailout results were laid out loud and clear, as a renter, I had my own fair share of ill-will towards these homeowners, or should I say I felt cheated by the potential pay off that the government was going to give these people who for one reason or another whether it was buying too much home, or not reading the terms of their loan clearly, were going to get off with making poor financial decisions in their lives. Why would my tax dollars coming out of my paychecks be used to fund their lifestyles. Now it is clear, the same people who put these homeowners deep underwater are the only ones who are benefiting from any bailout at all. You can call me unpatriotic if you like but it seems unethical and possibly criminal that so many people were cheated and than the con artists gets written a check for their service.
So in saying, I say follow the advice of my friend Anthony and if you’re a homeowner who is in trouble with your loan the only person who can help you out of it is yourself. Do the proper research, make the calls, and be responsible for the path you choose.
I would love to hear your opinions on anything that I have written.
-Harry Tran
