Archive for October 24th, 2008
Hope For Homeowners Facing Foreclosure
DETROIT – The battle cry among those who opposed the Wall Street bail out has been, “what about us?”
Many opponents to the bailout want to know why the government is helping the fat cats that got us into this fiscal mess but doing nothing for the people who are the victims, whose homes are being foreclosed at record numbers.
One government entity, however, is doing something about it.
Wayne County Michigan is intervening on behalf of homeowners who face foreclosure.
The plan, outlined on News Talk Online on Paltalk.com by County Executive Robert Ficano, is now, he says, being looked at by other regional and local governments across the nation.
Financial counselors are being provided for those in Wayne County facing foreclosure. The counselors try to negotiate a new mortgage payment plan that keeps the person in his or her house. If that is unsuccessful, they try to find the person more modest accommodations.
And, says Ficano, if the worse occurs, they help them move out with dignity, rather than having to face the embarrassment of bailiffs forcing them out of their homes and tossing all their worldly belongings on the curb.
I know of no other government that’s this proactive in helping citizens in its jurisdiction. Hopefully Ficano’s plan does help people who’ve received foreclosure notices. And hopefully the other governments studying his program follow his lead.
