Loved reading this post from Deborah Garvin. Take stock of the facts and figure out where you want to go next! Great thoughts that I wanted to share.
Are you among the millions of Americans who are totally confused, suffering from a severe case of "Financial Analysis Paralysis" and convinced of the country's financial downfall? Have the disjointed messages from the government and the subsequent media "spin" by the Talking Heads on the evening news left you wary to make any steps...sideways, forward or backwards...in the financial aspects of your life? The sharpest and more severe financial slump in the history of the United States has created a vacuum in the collective consciousness of the American consumer.
That vacuum is fundamentally the result of an absence of trust. We have lost trust in our banking systems. Our confidence in maintaining or securing employment is completely eroded. As the National debt continues its' upward spiral, we have little faith that our children or grandchildren will ever have access to the opportunities we pursued in our lifetimes. Further eroding our confidence in the future is that we have lost trust in our own ability to make astute and beneficial financial decisions for ourselves and our families
By and large Americans are suffering from a serious (and potentially terminal) case of "Financial Analysis Paralysis". The symptoms are rampant across the country and have the potential to wreck as much havoc as a dreaded pandemic disease's more dire predictions. Left unchecked, there symptoms have the potential to further erode the remaining equity of you home or to result in your paying tens of thousands of dollars of unnecessary interest cost accumulated over the live of a thirty year mortgage.
The recent real estate equity meltdown and resulting credit crisis brought on by the lax lending standard of the real estate boom years and the sudden free fall of home values have jaded our opinions, to be sure. And, there is little doubt that the average American consumer would benefit greatly from putting their credit cards on ice and living well within their financial means. However, "Financial Analysis Paralysis" is in direct conflict to the concept of fiscal conservatism and savvy financial stewardship. Instead the current state of paralysis is an abdication of power and control over ones own destiny.
Regaining a sense of control and power over our own financial destiny is the very basis for returning the American consumer to a life of stability and opportunity. The first step in the process is to debunk the myths and misleading "facts" that are bantered across the air waves every day. Reaching out to industry professionals who can provide accurate, forthright and direct communication will help ensure individual Americans are able to make financial decisions that are 1). THEIRS; 2). Based in FACT and 3). Congruent with their short and long term goals.
Should a consumer short sale their home over a foreclosure over a bankruptcy? Should a consumer refinance and lower their mortgage payment? Should a consumer just hold on tight to the status quo and do nothing until the storm passes? I don't think anyone can answer those questions until they have had an in depth and thorough conversation and analysis of that individuals situation and circumstance. I also don't think any true legal, real estate or financial professional begins a conversation with the "end in mind".
Confused? Uncertain? Wary? Most legal, real estate and mortgage professional are "hired" through our services a consumer employs us for. We don't...and can't ....charge for consultation. Contact us. Ask the questions. Get answers and determine your course of action with a purpose and destination in mind. Many of us volunteer our time in our communities to help consumers make informed financial decisions. We cannot help the people who are hiding behind the fear.