Forming a Foreclosure Taskforce – We Have an Obligation to Set Things Right!

I attended a preliminary grass roots foreclosure task-force meeting in Atlanta today with other real estate agents, loan officers, and real estate educators to discuss the ever increasing foreclosure problems that are plaguing our city and most others across the nation.  Foreclosures are an ever growing problem.   The consensus is that we have a major problem that is not being addressed by the politicians, real estate companies, the community, lenders, real estate organizations, or banks!  It is a very delicate subject that no one wants to talk about.  It is like discussing the uncle that has a drinking problem at the dinner table! No one wants to raise the subject, or acknowledge it!  In fact, there isn't a problem!  This situation is no different when you try to approach those that should be able to help in in our community.  Just try making some phone calls!  In an election year this is a political hot potato!  You will be turned away at every level from the US Senate, state government and local government.  It isn't their problem, you must be mistaken! 

We spend more money each year on the imaginary threat of a terrorist attack, than on a financial system that can fall into collapse at any moment.  We forget about the hardships imposed upon all!  Political apathy in an election year is meant to close the doors quickly on anyone wanting to discuss real issues.  "It's not my problem" shows you the door and a pat on the back to those trying to raise awareness, and find solutions to our problems.  Have you forgotten the pledges of the Federal Reserve and our politicians that there is no problem? Greenspan, and Bernake said a recession would not occur?  Did you believe them when they said it?  Well are things turning out as they said?  No!  They've lied, and no one is calling them on it!

The fixes we were promised last summer from the government and our leaders were just cheap talk.  It is like  placing band aids on corpses.  If you read the newspapers, press releases or watch the evening news, you come to learn the harsh reality that no one wants to really rock the boat!  It's not my job! The result?  Desperation is setting in many communities that do not know what to do or whom to talk to.  Homeowners are giving up and walking away from their homes.  From homeowner associations dealing with uncut lawns, declining home values, to police dealing with increases of vandalism, crack houses and squatters.  The problem does not just affect those that are being foreclosed and the banks!  It affects all of us!  It is an item that we all want to deny, and we are complicate in our individual guilt.  Banks do not want to acknowledge how bad things are and how many homes  are bloating their inventory of useless assets which are declining in value and frozen.  Real estate companies want everyone to believe it is an incredible time to buy!  In the mean time, foreclosures are infecting every aspect of our communities, and will for some time to come unless we as good citizens act.

Since we make a living from real estate, who knows more of the ins and outs of how real estate works?  As agents we have vast networks of clients, customers, and real estate sites that can host resources for those so desperately seeking solutions.  We have connections in the media and statistics in each of our market place to share with the media, the community and politicians.  As long as we breathe and live we are all stewards of this life.  We have an obligation to correct wrongs when we see and identify it!  Consumer counseling, identifying fraud, suggest changes in our industry and proposes substantive laws that may prevent such a magnitude of hardship from ever happening again!

Many in real estate believe the worse is behind us that recovery is just around the corner, it is not!  It goes without saying that it will be at least ten times worse than last year.  Politicians are ignoring the issue because they do not want to be questioned that they were all asleep on the job!  They did nothing but satisfy their own political interests and lobbyists!  To appease the public in an election year they offer a useless stipend in the form of $150 Billion in rebates!  Where will it be spent?  On retail!   It is meant more as a bailout of our banks than any real type of fix.  It took a lame congress no more than a week or so to come up with a meritless plot that will do nothing to correct the wrongs.  Perhaps it will just appease their conscience.

As a nation we are distracted with American Idol, steroid use of sports players, and Brittany Spears!  Who cares?  Individually we all should.  Denial is not a beginning, but a perpetuation of a really bad situation that will only get worse.  We have an obligation to become vocal in our own communities, ask questions, bring statistics out into the light, and hold leaders responsible for their lack of action as public servants! We need to look for solutions for those impacted immediately, and assist others to act before it becomes too late.   The fix is not just with the individual falling into immediate default.  The solution has to be multifaceted.  If we focus on fixing one individual, 100 more will fall into the same trap!  We are running out of time each time we say "It's not that bad!"  We need to start acting now!  Have we forgotten it is all about "We the People?"  What can you do?  I know I want to be involved!  I like real estate, and I love our country, but it needs work!  The politicians aren't doing it!  Contact them to let them know they've failed us!  The solutions may be found in each of us!

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• STATE OF GEORGIA REPRESENTATIVES
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