The Foreclosure Crisis

The crisis of foreclosure has become a wave bothering all kinds of communities. This problem must be resolved before destroying more families, communities, bank accounts. The U.S. government can take several steps without significantly increasing the increasing fiscal deficit. In the first part of this article, I propose a way to deal with the foreclosure crisis by New York Governor David Paterson. Next I will look for an alternative to the Treasury's plan to address the clerical process that makes lenders "humiliate" and confuses more homeowners.

The problem of solving the foreclosure crisis first raised the question "Is there really a foreclosure crisis?" The crisis is indeed in danger, but it is not caused by foreclosure of mortgage loans. . Foreclosure is a mechanism to deal with debts that people can not borrow. The potential impact of housing foreclosure (slowing down by the "affordable family plan" of the Obama administration) is actually a market, not a debt but a crisis. The history of the world economy has experienced sovereign debt crises such as Latin America in the 1980s, Russia in the latter half of the 1990s, and Argentina in the early '00s. The debt crisis in Europe is the most important thing in the business world since 2010.

Six years have passed since the foreclosure crisis occurred, and technical termination and recovery period of the economic recession began in five years. The nationwide foreclosure crisis has been relaxed. However, in Maryland, foreclosure recently recorded the highest value, Maryland ranked 16th in foreclosure, but by 2013 the state rose to 3rd place nationwide. The number of applications has surprisingly increased 250% between 2014 and 2014, and the foreclosure rate of Prince George County has increased by 50% this year.