Families Facing Foreclosures - Not Always A Losing Situation
The Associated Press reported more bad news, initial default notices increased by 33 percent in the month of August, 2011.
My first thoughts after reading this article was, "what are these families going through and how are they dealing with the stress of losing their home?" Is our government thinking about these families while they make little effort to address the housing crisis? I doubt it.
Foreclosures have so many streams of poison in our society.
Yes, it has affected jobs, banks, investors, families, and tax revenue.
The security and stability of a family relies on the comfort of having a place to call home.
I've watched my community go through an upset of foreclosures.
Thankfully, we are rebounding and have sold many homes in the past year and a half.
But the cost of these purchases were reflected in our property values that saw a 30-40% decrease.
Fortunately, I am considered one of the lucky ones.
Some homeowners have seen a decrease of over 50% in their property current market value.
So in the case of foreclosures, "will families lose?" Parents facing foreclosure must create a safe environment somewhere new.
A place that will project the same love and comfort as they once had.
Children in most cases will deal with a new school and finding new friends.
Communities are seeing empty homes with over growing grass and deteriorating structures.
Local government is collecting less property tax revenue but providing the same amount of services, if not more.
This will eventually cause higher service and sales taxes to be increased.
Banks are lending less and demanding more from borrowers.
Investors are seeing great deals but often not willing to release the higher cash required by the lenders to secure the loan.
Although it is true that this housing crisis has demonstrated a lot of losses to our society, families do not have to feel like a loser.
To most families, a home represents so many positive things.
A family is still a family be it in a home of their own, living with close family/friends or in an affordable apartment.
A family facing foreclosure must use their time to regroup and renegotiate what's important to them.
Taking the opportunity to instill true morals and values in their children lives while capitalizing on the love and support they need, is the true formula that will definitely result in a winning renovation of what a home really represents.
My first thoughts after reading this article was, "what are these families going through and how are they dealing with the stress of losing their home?" Is our government thinking about these families while they make little effort to address the housing crisis? I doubt it.
Foreclosures have so many streams of poison in our society.
Yes, it has affected jobs, banks, investors, families, and tax revenue.
The security and stability of a family relies on the comfort of having a place to call home.
I've watched my community go through an upset of foreclosures.
Thankfully, we are rebounding and have sold many homes in the past year and a half.
But the cost of these purchases were reflected in our property values that saw a 30-40% decrease.
Fortunately, I am considered one of the lucky ones.
Some homeowners have seen a decrease of over 50% in their property current market value.
So in the case of foreclosures, "will families lose?" Parents facing foreclosure must create a safe environment somewhere new.
A place that will project the same love and comfort as they once had.
Children in most cases will deal with a new school and finding new friends.
Communities are seeing empty homes with over growing grass and deteriorating structures.
Local government is collecting less property tax revenue but providing the same amount of services, if not more.
This will eventually cause higher service and sales taxes to be increased.
Banks are lending less and demanding more from borrowers.
Investors are seeing great deals but often not willing to release the higher cash required by the lenders to secure the loan.
Although it is true that this housing crisis has demonstrated a lot of losses to our society, families do not have to feel like a loser.
To most families, a home represents so many positive things.
A family is still a family be it in a home of their own, living with close family/friends or in an affordable apartment.
A family facing foreclosure must use their time to regroup and renegotiate what's important to them.
Taking the opportunity to instill true morals and values in their children lives while capitalizing on the love and support they need, is the true formula that will definitely result in a winning renovation of what a home really represents.
