Solving The Foreclosure Crisis

1012 WordsJul 10, 20185 Pages
The current foreclosure crisis is affecting everyone in this nation. If people are not experiencing the crisis firsthand, they hear about it through family, friends, and their other social networks. Nonetheless, it is impossible to escape because the media is constantly showing coverage about it. People are becoming more aware and seeing how expansive the impact is through television, internet, print, and radio. Americans are quickly realizing the impact the foreclosure crisis is having on the economy and the morale of this country. No one knows who to blame for this crisis, is it the government or the lenders or the borrowers? Therefore, I think the government has to be careful with any decision it makes to try and find a solution…show more content…
I would solve this with the government paying debt analyst, which could be figured out with a special formula based on how many people in the area the lenders serves, how large the customer base it, and how many other lenders are in the area. Lenders could share debt analyst if the government is paying for them. This could also be contracting out, still being paid by the government, to debt analyst already working in the area. Hopefully, if contracted out borrowers will be familiar to the name and more likely to give the opportunity a chance to work its magic. I would have lenders in charge of the advertising, because it would sound as if the lenders are doing this for the borrowers, not the government doing this for the borrowers to benefit themselves. Lenders could also post this on their statements and other mailings to the borrowers. Working with a debt analyst hopefully will teach borrowers that living beyond their means will have severe repercussions. I look at this crisis as being a problem which has to be addressed immediately. Sitting around placing blame and pointing fingers will not solve anything. I think the country has to stop looking for the cause of the crisis and should start to figure out the solutions to our problems. After the crisis has settled down and the recession is over is the time to sit down and figure out how the crisis hit and how come it hit so severely. Until this crisis is over Americans

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