How to Solve the Foreclosure Crisis Essay - 1250 Words

â€Å"How to Solve the Foreclosure Crisis?† â€Å"How to solve the foreclosure crisis?† This is a very troubling question currently facing our country today. The foreclosure crisis fueled by subprime mortgages, was a ticking time bomb waiting to explode. Many Americans hold large mortgages with adjustable rates that continue to increase. It was only a matter of time before the market would come tumbling down. From 2008 until now the national unemployment rate has risen from 5-6% to about 10.2% (U.S. Bureau of Labor Statistics). With unemployment rates continuing to climb, more and more Americans are stuck in large mortgages with no means to pay them. Many of these debtors are faced with mortgages that are greater than the values of their homes due†¦show more content†¦After the market crashed back in September of 2008 housing prices came crashing down as well. The fair value or market value of these mortgages was well below the purchase price for these homes. This left many debtors stuck with mortgages worth mo re than the value of their homes. Homeowners have no incentive to continue to make large mortgage payments on homes that are valued at less than their current mortgages. This situation has caused many homeowners to default or short-sell their homes in order to get out of these mortgage agreements. In addition, growing unemployment has caused many homeowners with subprime mortgage agreements to default as well. Substantial impairment has resulted throughout the United States due to the decline in market value of homes. In this situation banks and other creditors are faced with suffering a loss no matter what the circumstance. Forcing many homeowners into foreclosure will leave millions homeless. The loss due to the decline in market price of homes will be passed back to the creditors, since homeowners will not have the money to pay back their outstanding mortgages. It is very doubtful that creditors will be able to recover their losses by selling repossessed homes at auction. In my o pinion these creditors and banks best option is to work with American homeowners and offer some sort of debt restructuringShow MoreRelatedHow to Solve the Foreclosure Crisis1218 Words   |  5 PagesHow to Solve the Foreclosure Crisis The foreclosure crisis in our country has implemented a domino effect that may take years before we note any positive changes. As the country begins to heal, an effective process and/or program must be implemented that will reduce or eliminate foreclosures. It is important to remember that purchasing and maintaining a home is a part of the â€Å"American Dream,† and when working class families cannot seem to manage without loss of pride and dignity, then the dreamRead MoreHow to Solve the Foreclosure Crisis1146 Words   |  5 PagesHow to Solve the Foreclosure Crisis An important step in solving the foreclosure crisis is to provide assistance to mortgagees in making the monthly loan payments; this assistance should be in place before the first loan payment is due. One solution in providing assistance, which would not require any additional governmental funds to be spent, would be a mandatory mortgage equity accelerator program for every new loan written. A mortgage equity enhancement program allows a thirty year mortgageRead MoreHow To Solve The Foreclosure Crisis1443 Words   |  6 PagesHOW TO SOLVE THE FORECL0SURE CRISIS 2009 was a record breaking year for foreclosures in the United States. The perfect storm of high unemployment, tightening credit, decreasing real estate values and cataclysmic stock market crash resulted in millions of homeowners defaulting on their mortgages. What are the solutions to this problem? Some would argue that the government should intervene and help homeowners. Those with a more â€Å"free market† or laissez faire approach would contend that the governmentRead MoreHOW TO SOLVE THE FORECLOSURE CRISIS1793 Words   |  8 PagesHOW TO SOLVE THE FORECLOSURE CRISIS What do we think when we hear the word â€Å"foreclosure†? Most people realize that it’s definitely something that is not good, some say that it’s when someone fails to do something, but those people don’t really know the meaning of it. But before I present my idea let’s review the meaning of such process: From the website of InvestorWords.com foreclosure Definition The legal process by which an owners right to a property is terminated, usually dueRead MoreHow to Solve the Foreclosure Crisis2207 Words   |  9 PagesThe foreclosure crisis has become as confounding as the old, neglected house on the corner of your street. With shattered windows and wild lawn, no one knows what to do with it, how to save it or even get rid of it. Public and private institutions have tried this and that to patch the ongoing economic blight: lowered interest rates, credit counseling, foreclosure workshops, short sales and bailouts. Nevertheless, the number of foreclosures has relentlessly continued its climb. This ascent hasRead MoreHow to Solve the Foreclosure Crisis977 Words   |  4 PagesThe 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 accumulatedRead MoreHow to Solve the Foreclosure Crisis Essay1297 Words   |  6 PagesHow to Solve the Foreclosure Crisis Imagine a young couple was married and bought a house together. They were happy they made an investment together that they would never regret. A few years later, the company the husband worked for suffered critically by the recession and he was one of the hundreds of people who got their job cut. They now have two babies to feed and have to choose between food and the mortgage. They soon began to miss their monthly payments. They waited until things becameRead MoreHow to Solve the Foreclosure Crisis Essay2252 Words   |  10 Pagesdollars funded by investments and home purchases were lost within a few months (Wikipedia.org: United States housing bubble). Millions of home owners were found to be unable to pay their mortgages, leading to hundreds of thousands of foreclosures. These foreclosures not only led to the decrease in value of the foreclosed homes, but also decreased the value of the homes in the neighborhoods, complexes and cul-de-sacs around them (zillow.com). The billion d ollar industry created by the fruitful housingRead MoreHow to Solve the Foreclosure Crisis Essay1086 Words   |  5 PagesThe solution to the Foreclosure Crisis is the implementation of continual, mandatory education classes that must be attended and passed, or penalties will be applied to the homeowners. A little tough love from the lender and the government is necessary. Just as our parents follow through and continue to teach us throughout our lives, so must the lenders and the government take the time to â€Å"sit† every homeowner down to make them learn and realize that being a homeowner comes with big responsibilitiesRead MoreHow to Solve The Foreclosure Crisis Essay1273 Words   |  6 Pageshaving to deal with a major foreclosure crisis. According to studies by the Mortgage Bankers Association, one out of every 200 homes will eventually be foreclosed, and 250,000 families enter into foreclosure every three months. Although the worst times are still in our future, w ith help from the United States government, we as citizens will eventually overcome the horrendous situation of America’s current real estate market. To combat our nation’s foreclosure crisis, I believe it is necessary to

My Life And Vocational Experience - 1961 Words

The purpose of this paper is to demonstrate my life and vocational experiences to achieve credit toward my Bachelor of Arts in Business Administration at Aurora University. As an adult student I have a variety of experiences stemming from my 17 years of experience at Caterpillar as a design engineer and project lead for new product introduction. I have held a variety of jobs and volunteer positions during my lifetime, which showcase my diverse skills and experience that round out my personality. It is my desire to achieve the six semester hours required to complete my degree using my life experiences and vocational skills and knowledge. I began my career at Caterpillar in 1998 as a contract design engineer. I was hired as a fulltime†¦show more content†¦It is my belief that I have enough life and vocational skills which include leadership and management experience to successfully perform the five management functions required to be a high performance business manager. Project Management During my career at Caterpillar I have had numerous opportunities to lead multimillion dollar projects. One of which involved the development of a system to improve the safety of operators as the accessed and egressed machinery. The project entailed the collaboration of multiple design teams as well as a team of Australian mining companies and Australian Ministry of Mines, as well as machine compliance control organizations. As the team lead it was my responsibility to write a business case that aligned with our company’s goal to develop the best products and services and also demonstrate our social responsibility. Planning. It was my role as the project lead to ensure that we met the goals of both our customer and our company. Goals for zero harm to operators is prominent in many regions of the world. Increasingly customers are demanding this same approach from suppliers, and are willing to reward those suppliers who comply with a greater share of the business as well as greater price realization. Conversely, failing to comply means elimination from sales consideration. As the team lead I needed to ensure that we could meetShow MoreRelatedThe West Virginia Division Of Rehabilitation Services969 Words   |  4 Pagesserve on a regular basis. However, the practicum experience provided me with an opportunity to gain a deeper understanding of the rehabilitation process and what it means to work as a team with individuals to achieve goals. The practicum experience also gave me insight on the processes involved in providing individuals information and assistance in finding solutions to help overcome or wo rk through challenges encountered on a daily basis. During my practicum I provided coverage for the Deaf andRead MoreA Comparison of the Views of Mike Rose and Richard Rodriguez on Education764 Words   |  3 Pageseducational experiences after he is inadvertently placed in vocational education when the results from his placement tests are confused with another student named Rose. Vocational education is a euphemism for the bottom level. Rose went to school at a time when tracking, or sorting students by the results of placement tests was common in public education. Rose recounts his experiences in vocational education in order to elaborate on the problems of such system. The author calls the vocational track aRead MoreLiberal Education806 Words   |  4 Pageseducation be a liberal education or should it be more focused on vocational issues? A liberal education is a system in which education is acceptable for a free human being. It’s based on the medieval concept of liberalism of the Age of Enlightenment. It was once descri bed as a philosophy of education that empowers individuals with more knowledge and transferable skills, and a stronger sense of values, ethics and civic unity. A vocational education is an education that refers to a system or course ofRead MoreThe Career Of A Nursing Profession876 Words   |  4 Pagesdifferent jobs. The passion I have for nursing has flourished because of this life changing opportunity that is being given to me. Through the Vocational Nursing Program, I will be able to receive the education to be able to provide care for my community and fulfill my calling. All my life nurses have surrounded me. My mother was diagnosed with Hodgkin Disease while I was in the womb. She spent most of her early motherhood life in a Galveston, TX hospital. I also, in 2006 was diagnosed with cervical cancerRead MoreWork Experience Essay1120 Words   |  5 PagesWork Experience Between June 30th to July 14th, I had the most nervous and prominent moment of my life, I went to work for the first time of my 15 years life. I felt exciting fervent and passionate, after a scrutinisingRead MoreAnalysis Of I Just Wanna Be Average1039 Words   |  5 Pageshard and struggle through life trying to be the very best at every single thing they do; this is a good trait to have but, sadly not everyone has this type of work ethic or motivation. Some people just try to get by and go through the motions, often not getting the education they they are rightfully entitled to. This is the type of mentality that Mike Rose discusses in his narrative â€Å"I Just Wanna Be Average.† Throughout the narrative, Rose shares personal experiences of mistakenly being set onRead MoreAn Article On Theories Of Career Development1090 Words   |  5 Pagestheories of career development. By applying the theories to my career developments, evaluating the strength and weakness of those theories, then I took my parents’ working experience as examples, finally came up with my theory that should be used when making a voca tional choice. Applying Theories to My Career Development There are two career development theories which is quite coinciding with my career development. The first one is the vocational choice theory of Holland (1997), it teaches me how to chooseRead MoreThe Benefits of Vocational Education1724 Words   |  7 PagesThe Benefits of Vocational Education Most high schools offer some form of vocational education program. Vocational education is training for a specific career or trade, excluding the professions. Vocational education focuses on practical applications of skills learned, and is generally unconcerned with theory or traditional academic skills. Students at vocational educational typically receive more hands-on, career-minded education than students at traditional schools. Individuals are given the opportunityRead MoreThe Importance Of Non-Paid Work Experience862 Words   |  4 Pagesparticipating directly in a Vocational Rehabilitation Training under the provision of Non-Paid Work Experience (NPWE) program. During the month of December 2010 through April 2016 I began working at the Veterans Affairs office at 6437 Garners Ferry Rd, Columbia, SC 29209. The first five years was as a Federal Work-Study, while pursing my Bachelor of Business Administration degree. After graduating I was immediately accepted into the Veterans Affairs Non-Paid-Work-Experience (NPWE) training programRead MoreEssay on Education in Thomas Friedmans The World is Flat1164 Words   |  5 Pages Education is the most powerful weapon which you can use to change the world (Nelson Mandela). Although college may not be for everyone more people should look into getting a college degree. It is true that vocational and technical schools are good, although it limits people from exploring other areas of study that can lead to other career interests or opportunities. People should pursue going to college because most employers look to hire people with a two year degree or four year degree. According

What You Pawn I Will Redeem Free Essays

English 102 MWF 11-11:50 I really enjoyed the story What You Pawn I will Redeem. It was very well written and kept my attention throughout the story. It is amazing that he walked by a pawnshop and immediately recognized his grandmother’s regalia without ever seeing it other than in pictures. We will write a custom essay sample on What You Pawn I Will Redeem or any similar topic only for you Order Now I enjoy reading about Native American cultures and beliefs. There was a lot of humor in this story and Jackson definitely did not take himself too seriously. I think the 1st person narrator was very important in telling this story. I do not feel that Jackson was an unreliable narrator because he seemed to tell it like it is. He had no reason to try to make himself look better. He seems to accept himself for who he is. He is an honest man who seems to be well liked by everybody he deals with on a regular basis, from the cop to the guy with the newspapers. He shows his struggles with alcohol and also his giving nature. All the money he came across he spent not just on himself getting drunk but on others as well. I believe that the theme of the story is that no matter where you go in your life you never forget or really give up where you come from. Jackson Jackson has been homeless for six years away from his family in Spokane yet as soon as he saw his grandmother’s regalia in the window he knew it was hers even before they find the yellow bead. It then becomes his mission to gather the money to get it back. The regalia is a piece of him and the life he left behind. Even though he does not come up with the money to buy it back he still ends up with it in the end. How to cite What You Pawn I Will Redeem, Essay examples