Few months ago I received this email from my very close friend, begging me to help him out of the foreclosure. I went to meet him, to my amazement he had some business loans, heap of bills and then mortgage and his business was falling apart. First thing I told him that how courageous he was to call me on this problem, he was only 2 payments late so far and he was surely going to miss the 3rd one too. Home insurance and Real Estate bills were also due. So I took him to my office and refinanced his mortgage, his score was barely enough to get him a refinance on his house. He was saved in time. But going Thruogh tough times. Everybody in his household now working, bring home something toward the mortgage payments. Happy ending, but still heart breaking, his wife never work in his life, because he was making enough to go around, so wife never had to work. His 21 and 20 Year old are also working to bring home some money and they are full time student also. In this household of 6, now there is some relief. They eat less but sleep well, because they know that their roof will be there over their head in the morning.
Mortgage Foreclosure is now a days biggest threat to our less fortunate middle income class. And if you are working for a Mortgage and Real estate company then your job is also at risk. You never know who closes his doors next.
Federal government or states doing anything, we haven't seen any so far. Some sort of relief must be brought in by our law makers to help out these home owners. Pumping the money in the market by feds, relief for who? protect the stock market. Ain't gonna help. Help these unfortunate homeowners, now they are in this Tsunami of Foreclosures, before its too late. Give him extra time, ease the monthly payments burden something to let them get by at this time of need. Some Tax breaks and some kind of extra measures to bring hope to them will be a nice thing to do.
My Friend was lucky to have something to go on. He is still trying extremely hard to
pull his burden. But there are countless more waiting for some help from their law makers or rich uncles or aunts.
Big Question is ?
DO THEY DESRVE THIS HELP OR NOT?
I would say yes.
What say you?
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