It seems that we have to blame somebody – who Business Реклама Recent Posts « » It seems that we have to blame somebody – who February 6th, 2009 | Author: admin IT SEEMS THAT WE HAVE TO BLAME SOMEBODY – WHO? Asks Art Fried

I am not going to spend a lot of time talking about the homeowner or the government but I believe both groups have a part in all of this and we need to recognize this.

The homeowners are a toughie.  I call this the real mirror test and not the fogging type.  The one where you look yourself in the eye and are honest about it.  I know because I had to do the same thing myself.  In retrospect I made some big mistakes along the way and now I can admit it.  Most of us hate to change and I was one of the worst.  We get used to a certain lifestyle and want to hang on to it and then… stuff happens and we start the slide.  So much has happened to homeowners that are outside their control and it wound up costing them their homes.  Loss of jobs, loss of income, divorce, health issues, etc, etc, etc.  Those things we can’t control.  But there are some that we can and those are the real deal breakers.  I will deal with part of the issue in a later writing.  So on the blame scale I give the home owner a less then one out of ten on the blame scale.

Now for the government… I don’t even know where to start but I think when all is said and done they should be a little ashamed of themselves.  The country was in a panic!  Banks were going bankrupt, foreclosures were happening so frequently that it almost got to be a normal thing instead of a tragedy, people were out of work… the economy was in the worst shape since the great depression and unemployment was hitting double digits which is just unbelievable in modern times.  So what did they do?  They reacted in typical government fashion – they threw a whole bunch of money at it and got the Media off their backs and onboard to carry the message that the new administration was stepping in to save the day and clean up the mess from the last administration.  Halleluiah and let the good times roll!

Well we all know what happened.  Yes they had the money available, yes they had an outline of a way to help the home owner… you know that Loan Modification thingee… and then they quit thinking.  They offered free advice and help but kind of forgot they not only didn’t have the people available to man those positions, they also forgot that they had to be trained before they would be effective.  Great idea but if you are in a panic about losing your home and you make the call for salvation AND if you even get to talk to someone, you probably know just as much if not more then they do.  Another one of those pretty scary situations.

And then they did the unforgivable!  They didn’t have a way to monitor and manage this new program and instead of figuring that out, they turned it over to the same people that they just bailed out, the banks and lenders, and pathetically enough those are the same people who got us into this mess in the first place.  It would work right?  They offered to pay them a fee for each Loan Mod they processed and had all this money supposedly available to help but they forgot one small little minor detail… they forgot to ask one simple question, “What is in it for the banks?”   Why would they even be interested?  Just a slight oversight and one I will deal with in another article. [Art Fried]

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