I would rather live my life as if there is a God, and die to find out there isn’t, than live my life as if there isn’t, and die to find out there is!

Tuesday, March 17, 2009


I kept telling myself that I was not going to write this one, but here I go. You may or may not know that I have spent the last several months in the Foreclosure Prevention/Loan Modification business. So I write from personal knowledge via experience and inside observation. I know first hand that what I am about to say is correct.

First, let me say that I am no longer in that industry, and I am no longer in that industry for two reasons.

First reason: During my short few months doing Foreclosure Prevention/Loan Modification I watched the industry become engorged with charlatans, scam artists and out & out crooks. It seems there are more people trying to take advantage of financially troubled homeowners than there are legitimate helpful businesspersons wanting to help the financially burdened homeowners. I could not in good conscience continue in an industry so full of crooks that I was ashamed to tell people what I did. The last thing I need is to be painted with the same brush as the charlatans, scam artists and crooks. My reputation is too important to me.

Second reason: In the recent past I began getting more and more calls from people who were not having a problem making their mortgage payments. These are people who purchased a house and it had dropped in value, like many. One that is fresh in my mind was a situation where the homeowners had paid $600,000 for the home a couple of years ago, financed almost 100% of that purchase price and now the home has an estimated value of $400,000. They wanted the loan reduced to that amount. What gall! They freely paid the going price for the home, but because the market has set a new value, they want the bank to take a $200,000. Loss. They have no hardship; they can make the payments, but just want the mortgage amount lowered. In my opinion they are as criminal as the scammers mentioned above. They are simply trying to profit from the economic chaos.

Wake up America! If you make a purchase and the economic circumstances change what effect does that have on your promise and obligation to pay. You signed your name and made a commitment. Have we reached the point in America that our promise means nothing? Is it the responsibility of government to bail us out of every poor decision we make? Using a tactic I learned from a friend, I asked these people a simple question: If the market had gone the other direction and the home was now valued at $800,000, would you be ready to give the gain to the bank? If not, then why the heck do you think the bank should eat the $200,000 loss caused by your poor judgement? It just makes no sense.

It’s time for America to start regaining our moral compass. Perhaps honoring our commitments and promises is a good place to start.

Be blessed,

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