How to Solve the Foreclosure Crisis

977 WordsJun 15, 20184 Pages
The economic crisis that has occurred in the recent years and that has consistently worsened over past year or so has led to many other problems, one of which is the foreclosure crisis. More and more people are losing their homes due to job loss or simply poor financial choices. The number of unemployed and homeless is increasing at an alarming rate. Many feel like there is nothing that can be done to remedy the situation, especially when the enormous debt that the United States has already accumulated is considered. There is not just one simple step that can be taken to fix this serious problem, but there are a series of things that the government and financial agencies can do to help gradually improve the situation, including more…show more content…
Some people are supporters of the idea that the country’s wealthier people should give of their resources to help bail out those in trouble. This may seem to temporarily help the problems, but overall it will not do anyone any good. It will only teach those who were in trouble to become dependent on others instead of teaching them to stand on their own two feet. The United States was founded on the principles of capitalism and has thrived for hundreds of years. We have only begun to have problems when we started moving away from the ideals of our founding fathers. If capitalism and the “American Dream” have worked for us for so long, why change it? We are only on a long, winding detour that will eventually lead us back to capitalism anyway, so why not avoid a great deal of grief and go back now? Addressing the way the government runs and our “founding principles” may seem completely irrelevant to the subject of the foreclosure crisis, but in reality it all ties together. The government runs some of the United States’ largest mortgage lenders, so the way that the government operates in general certainly affects mortgages and foreclosures. It is almost comical to think about how the government is guaranteeing funds to these financial institutions when it is trillions of dollars in debt itself. If our government officials would just acknowledge this and actually do something for the good of the people instead of simply looking out for
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