Foreclosure-Personal Narrative

As a child, I never realized the obstacles my family went through and why they wanted me to be the best student at the school. My parents tried their best in sheltering me from the truth but I always knew we were struggling financially. Growing up, I witnessed my parents struggle to find jobs and a stable house

In the United States we face many issues such as poverty, death, health, and many others. But the issue that is currently effecting society the most is foreclosure. What is foreclosure? How has it effected society?. The definition of foreclosure is a legal or professional proceeding held by a lien holder which is a court order termination of equitable right of redemption amongst housing properties. Foreclosure has not just effected us financially, but has effected society physically.

I had two hard working parents who went above and beyond to ensure that my sister and I had a good childhood by trying to grant as many requests that they could. They always stressed the importance of hard work to achieve anything and everything we set our minds to and education, but I was very young so education wasn't that high on my priority list. I wanted to become a truck driver or a construction worker, but after my dad suffered a back injury at his job I knew that I wanted to fix his

In the gleeful times of 2005, my parents decided, like so many others, that it was time to “upgrade.” They sold our smaller home on the other side of town, which had appreciated nicely, and bought a 3700 square foot behemoth in a town with already exorbitant property taxes. My younger brother and I were thrilled to finally have a basement, our own rooms, and even a concrete basketball court in our backyard! All eight-year-old me knew was that things were going to be a whole lot more comfortable from there, and my optimistic parents seemed to think the same.

was August, and I was seven months behind on the mortgage. The house had now gone into foreclosure, and on the twenty-eighth, it was going to be auctioned. Despite what that letter said, I still trusted God to perform a miracle. That letter did not faze me a bit. My faith was solid, and nothing or any person was going to shake it. After all, I was following the direction of the Lord.

mortgage was due, and I had not paid anything since they sent the check back to me in March. I received a letter stating that I had to send them both payments, or they would not accept it. I had believed that if I was sending them a payment, everything would be okay until I was able to catch up. When I sent February’s payment in March, the mortgage company sent the check back. I explained to them that I wasn’t two months behind because I had until the 15th of March to pay them. They would not work with me, and now I had a problem of needing at least another one thousand dollars to catch up with my mortgage payments.

Foreclosure has hit so many people in the U.S. that now people feel like giving up. America is known for pushing forward and fighting for a better tomorrow, but now it seems like that tomorrow is only going to get worse. Fighting foreclosure starts in the home with the family. The parents are the ones needing to be a light in the children’s eyes and showing them a good way of saving could help them also in the future by not making any mistakes with their credit. Jobs are scares but getting any job period could allow some of the debt to slowly fall off. Even if it comes to having to sell your house, doing it the best way can only helps your credit which will help you in the long run when you are in need of buying another house. Letting go

The foreclosure crisis in America has impacted everyone- even those who don’t own homes. Our nation is currently struggling with high unemployment, a relatively illiquid credit market, and a deficit that raises serious concerns about the value of the US Dollar in the not too distant future. With interest rates already at historic lows and the government pursuing an unprecedented policy of quantitative monetary easing, options for government intervention are limited. While there is no simple solution to this problem, I think that we must look at the reasons the housing market went into crisis, and based on that develop a regulatory system that will allow us to avoid another situation like this in the future. If Americans believe

There were many people affected by the most recent recession and therefore forced to foreclose on their homes. Losing a home due to foreclosure leaves a big black eye on an individual’s credit score and forces these people to be patient until they are approved to rejoin the housing market. “Boomerang buyers” are a group of potential homeowners who are re-entering the housing market after losing their homes due to foreclosure.

“We all long to be in the flourishing section, but we stay in the safe section”(Mr. Mustard.) I want to be able to stand up for what is right no matter who it is for or when it is. “ For I know the plans I have for you, Declares the Lord, Plans to prosper you and not to harm you, plans to give you a hope and a future(Bible Gateway.) This is has helped through this year because it has helped me to know that I am the temple of God and I am the body of Christ. I know that my plans and God’s plans are different. I learned that through this year. I always wanted to make my own plans like I will study this or I want to do this. But it I have found out that it doesn't work that way. I know I have to believe in him and he will show me the way. “Also tht I am the body of Christ, when God looks down onto this earth, He will look down on us and see the image of Christ in us”(Pastor Matt.) That just blew my mind, I don’t know why, but it did. That is why I want to grow more in my faith and my action because we all are made in Christ image, and we should fulfill

The foreclosure/housing market crash several years ago affected a vast amount of families across the country. Unfortunately, my family was also affected. Thankfully, my parents have not gone through foreclosure yet, but we are all stuck in a house because we are “underwater” (owe more than it is worth). This crisis directly and indirectly affected so many, but thankfully we are all starting to bounce back.

Record high unemployment, declining home values, and a recessionary climate have plunged the housing industry into a downward spiral. It started with lenient mortgage guidelines that allowed millions of people to achieve the American Dream of owning their own home. Eventually they ended up living beyond their means. Adjustable rate mortgages came due and realizing that they could not afford the jump in mortgage payment, homeowners began to put their homes up for sale. There weren’t enough buyers to keep up with the supply, and mortgages began to go into default. Families across America were faced with the reality that they could no longer afford to keep their homes, and foreclosures began to flood the market, leading the nation into a

As the saying goes, history repeats itself. The Great Depression is a time in American history that will always be remembered as a time of hardship in Americans’ lives. The goal: to never have such great oppression exist in the United States again. With the way the economy is headed today, many people are skeptical as to whether history will really repeat itself and create a new Depression. One of the biggest problems in the country today is the foreclosure crisis. Many Americans are living outside of their means or have lost their jobs and are unable to make their mortgage payments. When people can’t make their mortgage payments, they will lose their home and their family will be out on the streets. There are definite changes that need to

Narrative Essay: Revision 5 During the first week of July of 2014, when I went out to grab the mail, I was approached by an older gentleman who handed me a piece of paper, and told me that our house was in foreclosure. “That is impossible. We pay our bills on time!” “I do not know anything about your problems,” he said.

I would want to explain to Shelly what loss mitigation is. I would explain that it is a program to provide relief to borrowers with FHA insured mortgages in default. Through this process the lender can modify the terms of the home loan this program will maximize homeownership retention, reduce foreclosure and preserve the integrity of the FHA insurance fund. I will explain to Shelly that she can still qualify for early intervention because she is less than three months delinquent on her payment. This early intervention is default counseling (which my counseling session with her will count as), informal repayment plans, refinancing the mortgage or selling property. I will also tell her that her lender will have to consider her past, current and future financial situation. Because they have great credit scores and this is the first time they are behind on their payment, the lender must take that into consideration.