The Misconception

The Misconception

When I talk to people about Foreclosure, I usually hear a few different takes on it, but two of those takes are first the heartache of someone facing Foreclosure and secondly from some of those who are not facing Foreclosure they will say, “well they deserve what happens to them, they over extended themselves or they got one of those wacky ARM loans”. My heart breaks on the first and my mouth and my heart drop when I hear the second! As I said there are other takes but the reason for this post today is because it breaks my heart when I hear people condemning anyone facing Foreclosure!

I talk to a lot of people that are going through the trauma of Foreclosure and a huge percentage of them are going through it by no fault of their own! In an article on the site in July of 2010, they reported, “The recession killed off 7.9 million jobs”. That was back in July, how many more jobs have been lost since then?

This is 7.9 million people that lost their jobs, and probably a huge number of them were home owners, home owners that most likely are facing Foreclosures. They were people that lived in modest homes, were a 2 car family (and they were not necessarily new cars), people that have paid their bills on time for years if not decades, people who were about ready to retire in the home they paid on forever. Don’t get me wrong, yes there are millions that have overextended themselves or some who got sucked into the ARM nightmare, but not all people facing Foreclosure have made a mistake! The misconception lies in lumping all these people into one category.

There is another hardship that happens that is no fault of their own, there is nothing that is more heartbreaking than to hear a story about a young woman with children, her husband just died from Cancer, they are in financial straits because of all the medical bills and now their home is in jeopardy because the mortgage payment goes to pay the co-pays for her husband’s treatment, then the worst happens and she becomes a widow, her children’s father is no longer there for them and the main wage earner of the home no longer brings home his paycheck.

There are many reasons why people are facing losing their homes and even for those that have made a mistake, well we’ve all made mistakes in our lives and all I can say is thank God for second chances!

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