Repairing The Current Foreclosure Crisis Essays
Once again, allowing local institutions to serve their customers with common sense and fair business practices, within federal guidelines, will eventually restore the housing market in America. The possibility a national leader knows what the local economy in a major city such as San Antonio, Texas or a small town such as Hondo, Texas, will bear in the housing market is virtually non-existent. The rights of citizens in these communities are the same, as they are in Bangor, Maine, Walla Walla, Washington, and all points between. The economies and the needs are different from neighborhood to neighborhood, and best addressed by those capable of making such decisions. A lender in Dallas, Texas, offering a realistic interest rate for the Dallas economy, is much more able to determine which buyers can afford home ownership in Dallas than a politician that might have only seen Dallas flying home to California.This common sense approach would eliminate so much of the foreclosure problem facing America today.
The problem with so many homes sitting empty will not easily be solved in this manner. If the federal government is truly interested in helping individuals and the economy, a complete restructuring of all the recent bailouts will be required. Instead of forcing money into financial institutions, and controlling the institutions day to day