Ok all this talk about a mortgage rescue what does it really mean? Someone help me out here can money save distressed homeowners? Well I guess there are some who may have lost jobs or downsized but lets take a look at a bigger picture. This country is driven by debt being in trillions of dollars of debt and we follow along that same path. More than 70% of Americans live paycheck to paycheck (including me but I have woke up an smelled the roses and working to get out of the rat race) so guess what happens if someone loses a job or is downsized living paycheck to paycheck there will be no savings so a lot of what they thought they owned is took back not just the home.
Restructuring loans sounds very good but what will someone learn from mistakes when pain is intercepted. I think a better choice for us is to bring light to anyone who is talking about being a better steward of the money and resources we have been entrusted with. Dave Ramsey, Bishop T.D. Jakes, Apostle Ron Carpenter, Michelle Singletary, and many others who give sound advice on money management. No one is taking the time out to see how people are losing or lost there homes instead opting to go for the quick fix. We should have learn something from Hurricane Katrina when FREE MONEY was passed out but no education a lot of the time everything but the right thing was bought with those debit cards. We can't leave out the most prized thing there is rather to be chosen over riches that thing is called Wisdom. Whether we are running our businesses like Fannie Mae, Freddie Mack, Enron, or Walgreens we must be good stewards and make wise decisions or we will be out of business plan and simple but not easy because we will have to use discipline.
I'm not saying these programs and ideas are bad I'm just saying before you give someone a driver's license you first need to make sure they can drive the car! You can give someone who just went bankrupt millions of dollars but if you don't educate them not to make the same mistakes that did to go bankrupt guess what they will be doing sooner or later filling again! Money cannot save you but WISDOM can.
P.s. "Buy Wright, Invest Wright, Sell Wright"