While we all are hoping for the economy to pick up, and it has thanks to many Obama initiatives, foreclosures are still part of our daily life.  Relative to but a few years ago, prices are higher, incomes are lower, and “trickle down economics” (give the rich all the tax breaks so the poor will get their leavings) are just increasing the list of foreclosures while making a richer and more detached upper class (see Mitt Romney and Donald Trump).

If you or any friend or family get caught up this this foreclosure crisis don’t just run.  There are many alternatives to letting the bank win.  Sabotaging the house that the bank is trying to take may give a short term rush, getting (forcing?) the bank to be reasonable and business like where you get to stay in your home is nicer.  We’ve spent the over a decade getting just such resolutions to happen, but if you don’t use us, please use an attorney to protect your rights.  A happy ending is the best victory.

I am sorry if this is not the popular view, but even in an airplane, when telling you safety instructions, they tell you to put the air mask over your face before assisting the elderly or even your own children.  Why?

Because we need to be strong before we can help others.  A huge amount of our population is under foreclosure, should be under foreclosure, will be soon under foreclosure, or are liquidating their life savings to temporarily stop being in foreclosure.  This is not sustainable.

Those that need to go bankrupt should, so they can pick up the pieces and start over.  I have seen too many parties try to stave off financial ruin at the cost of their health and sanity and all they achieved (besides health problems) is delaying the inevitable.

But where you stand in this whole situation needs to be evaluated by someone with the knowledge to guide you in the right direction without emotion entering into the equation.  Someone who can tell you the cold hard truth.  Sometimes it will be that you can wait it out.  Often, these days, it will be that you need to fold in the towel and start over.  If you think it’s hard to restart now, think how hard it will be 5 years from now?!?

So if you don’t seek our help and guidance, please find someone who can give you a dispassionate, honest, analysis of your situation.  You’ll be glad in the end.

– Michael C. Klasfeld, Esq.