A HOMELESS NATION

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Author: timeswriter09

Started: February 23, 2009, 1:51:50 pm

Target: The government, renters, and homeowners

Category: Economy & Business

Supporters:

Goal:

100,000

Goal Progress:

Status

Active

A Nation of Homeless

As the nation goes through a financial crisis many and many are trying to maintain a roof of their homes, others are trying to exploit the economic situation. There is no doubt that temporary and permanent measures must take place in order to prevent a nation of homeless people.

As lawmakers figure ways to keep people in their homes and avoid foreclosures, many of those unemployed and who were foreclosed on are dealing with greedy land lords. They are not suffering from the nations economic issues despite their offers of introductory teaser rates to bait people into leases. Some housing complex land lords are expanding and purchasing multi housing units during these economic troubling times. It is easy for them to expand because all they have to do is increase rent by percentages on all “stupid renters.” It seems one’s unfortunate experience means opportunity for a huge profit. No one disputes that those with the ability to provide a good or service should make a profit but don’t we all have to do our part to stimulate the economy? That is why law makers should consider writing temporary and permanent laws to deal with all kinds of present and future predators.

Unemployment is on the rise. States like Florida who always denied unemployment benefits to people are still not giving unemployment to people and land lords want a piece of nothing. Foreclosure is high and citizens are staying temporarily with relatives to avoid homeless. Law Makers should be made aware of the likelihood of mass homeless so that they may impose laws to prevent this.

A national economic emergency plan on a temporary basis would be widely appreciated by renters. Temporary rent freeze starting from the time the economic crash or from the time President Obama swore in could be implemented. If a Land Lord gives a written rent increase a tenant has the right to move with out retaliation. Thus, the property owner forfeits the right to post eviction or evict, file court proceedings, the right to security deposits and report to credit agencies of any kind. When an N.E.E.P is lifted proprietors may not impose huge increases or try to recoup increases during the temporary N.E.E.P period. During this period rent payments and mortgage payments are likely to stay constant and consumer spending may increase as well a likelihood of economic stimulus.

On a permanent basis loan or mortgage borrowers have limited or no rights. A contract is an agreement between two parties on terms. Borrowers do not have the option to negotiate the terms of the loan. They are told by the lender what they qualify for and should sign on the dotted line or forfeit your dreams. Many lenders have falsified the application in order to qualify loans thereby increasing their bonus. At the end it was all about the Benjamin. There are free measures that could be taken to prevent this from occurring again. A Federally mandated seminar should be taken by some one who is about to make purchase. It should be acceptable if a College credit real estate course is taken in their lifetime. Once a seminar has been taken (at a location not funded or involved with lending) a certificate of compliance on mortgage and real estate seminar should be given to all attendees. One would then be allowed to find and negotiate a loan or mortgage with an educated choice. This law would not absolve lenders from calculating a borrowers risk and ability to repay the loan. Once a borrower has negotiated terms, a bank list page with bank heading and both party signature must be given. This list page which can be called a certificate of party agreement or mortgage resume would list terms and interest rate etc... at a junior high level. This would help tremendously since attorneys do not like to read the countless legal jargon they are required to read. One would also like to have a copy of all the documents that they are going to sign three days before closing for attorney and client review. Let’s not forget liability, if the borrower is being foreclosed on and it is found that they had misrepresented financial documents then they assume responsibility. If there is much evidence that a lender was engaging in predatory activities the lender is responsible for the mortgage and the borrower in court owns the home free and clear. Still other laws should be placed in order for the public to live without fear of economic down turns and foreclosures.

We should not forget the gap in information when purchasing a home. As a law realtors, sellers, builders and tax assessors should provide property tax information and any associated fees that a buyer will encounter in the future with that property. Builders should be required to implement on all new construction a green product such as solar, geothermal or wind power. All other homes can be part of a temporary cost freeze.

All these free cost efficient ideas is to create an educated borrower society, force people to an efficient lifestyle that won’t bankrupt this nation, and prevent widespread homeless that only predators will benefit from.