Foreclosures 101 - The Housing Crisis
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4:21
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IMPORTANT!!! Watch, A HOME FIT FOR ROYALTY!!!
ThePrezidentialbey 1 year ago
@Neseri2de the frightening thing is these things were pushed as products. people bought into it without realising the true cost.
empressjulz 1 year ago
What I cant get my head around is how they refer to loans as products. Isn't a product something which is poduced? something tangible, now a loan is a debt right?
So the financial institutions produce debt and market it as products there by fooling a lot of not so smart people in to thinking that they are buying something but in fact all they are getting in return is a burden for their own backs, which eventually becomes too heavy to carry and end in the fine mess which has occured.
Neseri2de 3 years ago
Keep in mind that these organizations are at least in part funded by the lenders themselves. An underlying fact which helps explain why these types of counseling services exist, is that the lenders want something rather than nothing. If the person continues on with the mortgage, especially over the long term, the banks obviously stand to more money (and at least avoid losing money) compared to if that person let the mortgage foreclose and declared personal bankruptcy.
HowieTheFink 3 years ago
This is the best coverage I've seen of the Hotline and what we're doing here in Colorado to prevent foreclosures.
ColoFCTaskforce 3 years ago
This is very good information that I think everyone should know. Thank you firesideProduction, good job, 5star.
JMH
JMHamilton1 3 years ago
That was some really good information and put in very simple and understandable terms. Thanks Fireside - for all of your good work. Well done! - MHG
MHG165 3 years ago
Awesome! This is so great and I'm glad someone has finally stepped up to cover this sensitive topic in a way that is promoting solutions, as opposed to promoting fear and despair. People that are facing foreclosure need to realize that they are not alone; there are organizations out there that can help them be proactive in finding solutions, and ultimatly, avoid foreclosure.
Good for you, Fireside, for creating such a helpful and insightful production!
Thank you, thank you, thank you!
tradewindstatues 3 years ago