Bookmark this site
The social impacts that this mortgage and foreclosure crisis are having on people, families and our communities are nothing short of devastating.
What was once a rare occurrence has now become daily normal life in many neighborhoods across the country. Suicides, murder, divorce, depression, crime and blithe are all attributes of the foreclosure crisis and it all can be traced back to the toxic mortgage. A mortgage that was sold by the very players that are getting golden parachutes and Wall Street on the verge of a trillion dollar bailed out as we, the people, foot the bill and continue to suffer on Main Street.
Some of these suffering people are attempting drastic measures to save their homes. Just this week a 90 year old woman shot herself in this chest as sheriffs deputies tried to evict here in a last ditch effort to save her home.
The 90 year old woman has been the home’s sole owner since 1995 when her husband died.
Countrywide Home Loans filed for foreclosure last year and her home was sold to Fannie Mae. Now, mortgage giant Fannie Mae said it is forgiving the mortgage of the woman. Apparantly they said it was the right thing to do.
I guess one has to shoot themselves to get help with their mortgage?
The sad facts are this never should have happened and our federal, state and local governments are doing little or offering programs that offer no “true” help to the millions, yes, millions of Americans suffering as a result of a mortgage and dwelling they once called home.
Millions of Americans that were sold the American Dream in the form of a home and loan are now millions of Americans that are scared and depressed. Many have lost all hope in our government’s ability to do anything meaningful to save Main Street and protect the people for whom they serve.
Without hope, what do we all have to look forward to? Without hope, how can we have confidence in ourselves, let alone the economy?
The bad actors that engineered this world catastrophe are receiving plush hundred million dollar retirements and severance packages and now Wall Street is on the verge of being bailed out of what our government has acknowledged as toxic assets.
Meanwhile on Main Street, the people are left to stew and die in their toxic assets. AKA Homes and loans. The American people are left to fend for themselves and to suffer their fates.
From the AP:
Polk’s longtime neighbor, Robert Dillon, climbed through her window and found her lying in bed bleeding with a gun next to her. He visited Polk in the hospital on Friday.
“She said it was a crazy thing to do, now that she’s had time to think about it,” Dillon said.
Moe says – These mortgages have went from toxic to killer. Killer mortgages…
More Blog Posts and Research from Moe Bedard on the Social Impact of Foreclosures
The Social Impact of Foreclosures: Homelessness, Crime & Death
For millions, the American Dream has become the “American Nightmare”. Many people have lost their jobs, their mortgages have become cancerous and they can no longer pay the loan on their overvalued homes.
The social impact of these foreclosures is reaching every “dark” nook and cranny in almost every city in the country. Homelessness, domestic abuse, crime, violence and instability are rising in many communities as hundreds of thousands of homes go on the foreclosure auction block.
This is all happening in a country where if a child eats a hamburger and gets sick, there is a nationwide recall of the tainted and toxic meat and the company that sold this beef is put out of business. This is from the same country where people are literally dying from these toxic mortgages and millions more are being kicked out of their homes and not one bank has been held accountable for selling such an INCREDIBLY DEFECTIVE AND TOXIC consumer product.
Suicides, Murders and Stand Offs With Swat. Welcome to the world of foreclosures.
The social impact that foreclosures are having in our communities is nothing short of disturbing. From suicides, murders and as in this case, a stand off with swat.
NewsDay:
SADDLE BROOK, N.J. – Authorities say a son held Bergen County sheriff’s officers at gunpoint as they tried to evict his 88-year-old mother from her foreclosed home.
Foreclosure Related Suicide and Murders on the Rise
“Suicide is certainly a response to hard economic times,” noted Dr. Harold Koenig, professor of psychiatry and behavioral sciences at Duke University Medical Center in Durham, N.C. “Consider what happened when the stock market fell in 1929. There was a rash of suicides.”
Nadine Kaslow, chief psychologist at Grady Memorial Hospital in Atlanta and a professor at Emory University’s School of Medicine, said such financial stresses come attached with significant psychological consequences.
“There is no question that the economic downturn in our country is causing havoc with people’s mental health,” she noted. “It is very depressing to lose one’s home. It represents loss of stability, a feeling of failure. … It is scary and overwhelming.”
Mortgage Broker Stabbed in Home Invasion by a Disgruntled Client
And we thought the only thing “shady” loan officers and brokers needed to worry about were more regulations and finding a job. Now, it looks like some disgruntled clients may be looking for a pay back and it’s not just money they are looking for, it may mean murder.
Will your mentally unbalanced clients come after you for revenge?
