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Sub-Prime Borrowers Are Heroes, Too!

By Mike Rockwood

Millions of homeowners had high-paying jobs and lots of savings and lots of home equity when this economic mess started. Congratulations. And, a special “shout out” to those of you who still do.

Another millions of other American homeowners had not reached such financial heights before the housing market meltdown. Some of them are young, just getting started on wealth-building. Others are less fortunate or not as well-connected. Some are in the midst of personal calamity like a divorce, death in the family or are really sick themselves. Others are working in causes that distract them from wealth-building…things like church, the environment, helping the homeless, AA, etc. And, some just have vocational priorities like teaching or preaching or other fields that don’t pay well.

Then there’s the millions of other American homeowners who foolishly believed that they could have it all – they participated in the scam that foolishly, greedily and sometimes fraudulently lenabled them to buy and occupy homes way above theri means. Their kids even went to schools in these better neighborhoods. Shocking, no? Unfortunately, no one is showing much sympaty to these folks.

Heroes and villains abound in all three groups. I work as a foreclosure consultant so I get across the table and on phone consults with thousands of American homeowners in trouble. The vast majority in all three groups are heroes. Americans just trying to extend our heritage of restlessness and hope for a better life for our families.

I bristle when I hear the industry tools pander to wealthy and smug viewers by blasting the vulnerable members of the financial lower class. Without a doubt I have met just as many villains across the $18K dinner table as I have across the $180 one. Palos Verdes villains are scarily-similar to Compton ones.

So, let’s keep after bad guys as we clean up this housing mess. But, let’s be nice. After all, even the villains in this story bought homes with the booty. It’s not like they – well, you know lots of bad things that you can do with ill-gotten gains.

Need more nformation about foreclosure workout solutions and getting Mortgage Modification? Visit Rockwood’s site about DIY Loan Modification at Home Loan Modification

categories: loan modification,home loan modification,mortgage modification,mortgage workouts,foreclosure,mortgage,debt,business,personal finance,Real estate,bankruptcy,finance,Economy

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Article Citation
MLA Style Citation:
Rockwood, Mike "Sub-Prime Borrowers Are Heroes, Too!." Sub-Prime Borrowers Are Heroes, Too!. 3 Jul. 2010. uberarticles.com. 23 Oct 2014 <http://uberarticles.com/finance/mortgages/villains-are-rich-and-poor/>.

APA Style Citation:
Rockwood, M (2010, July 3). Sub-Prime Borrowers Are Heroes, Too!. Retrieved October 23, 2014, from http://uberarticles.com/finance/mortgages/villains-are-rich-and-poor/

Chicago Style Citation:
Rockwood, Mike "Sub-Prime Borrowers Are Heroes, Too!" uberarticles.com. http://uberarticles.com/finance/mortgages/villains-are-rich-and-poor/


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