A little compassion for the foreclosed?
I live in the Chicago area. That means I now have the dubious distinction of living where the average price of a gallon of gas costs the most.
At the supermarket, milk and rice are more expensive than ever.
I don’t bring this up for sympathy. (Though, if you do want to send me some of your spare change, I have a PayPal account all ready to go.) I do it to make a point: Everything is more expensive these days.
It’s little surprise, then, that we are seeing so many foreclosures across the country. Salaries just aren’t keeping up with the constantly increasing cost of living. Those mortgage payments that seemed doable just a year or two ago, are now overwhelming.
Yes, I do know that some of the foreclosures we are seeing are the result of greedy homeowners trying to force their way into a house that is out of their means. I know some of the foreclosures stem from the creative financing that equally greedy mortgage bankers and brokers finagled to help these borrowers overreach.
But I also know that an even greater number of foreclosures are caused by bad luck, the kind of luck that can hit any of us: loss of job, drop in income, serious illness, divorce. These things happen.
So next time you complain about the government providing financial aid to those in danger of losing their homes, why not show a little compassion instead? Foreclosure assistance will cost the U.S. taxpayers very little, on average. Slowing the number of foreclosures seems worth it to me.
Tags: foreclosure, milk prices, rice prices, rising cost of gasRelated Stories
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