I still don't really know exactly what a foreclosure is..but i do know that basically you no longer own your home and it is taken away from you. And i guess this is how the financial crisis has directly effected me. The reason why I had to move this summer is because our house went into foreclosure. From my understanding of the current mortgage situation, this is a result of people getting loans that they cannot and would never had been able to handle. These banks and loan companies were loaning out money to poor people...or people who could clearly not afford to pay off these huge loans that they were taking on. I have reason to believe that this is what happened to my family. Although i do believe that they should take some personal responsibility for what happened. After all...all of the people in this mortgage and foreclosure problem did in fact sign the agreement that got them into this mess...they should have been better informed..yes...but when it comes down to it they really brought it on their own heads thinking that they would be able to pay off these massive loans.
I'm not saying there isn't blame to be placed on these big banks and companies that took advantage of the American people, but what is pointing that finger going to do? it's most definitely not going to give any of these people their houses back. Adults are always talking about " I want justice!" or " I want someone to pay for what they did"...when if fact if any of these people do get "punished" that's not going to help anyone or put money in any pockets.
I just find it really sad. I miss my home. I didn't even know what was going on. I just thought that we were trying to sell it...i didn't know that we were in serious danger of it getting taken away. That house was in the family since 1913...and i had to find it on a foreclosure site....listed for $400,000...it just really hurt me to my heart. I only lived there for 4 years...but still...all that history to just be flushed down the drain like that...its really not fair. It just hurts.
And i know millions of Americans are going through this all over the nation...everyone is losing their homes and the government is less focused on struggling Americans than it is on bailing out these banks and loan companies that started all of this mess. Who is truly suffering here? Who really NEEDS HELP!!??! these people who are watching their dreams of owning a home go down the drain...the American people are the ones who need a bailout first and foremost. Just think of what losing a home can do to you mentally and emotionally? No wonder people are losing hope and faith in this government. The government isn't taking care of us.
What are we going to do?
