I used to be against helping out the homeowners in foreclosure, but it is becoming a matter of national security. If millions of houses are foreclosed upon, there will be an increase in crime, poverty, homelessness, and children will miss school, because they have to move elsewhere before enrolling in a new school; nearby houses will drop in value. All around it's a bad situation. The banks were bailed out. Now it's time to help people who want to remain in their house.
Well its not only predatary lendors. I know some folks has this same thing happen to them when they lost theiry jobs. They had a good fixed rate on the mortgage and when the plant laid them off and no one hiring they were foreclosed on. Really sad situation because it shows is can happen to anyone.
