Psychological Paralysis Prevents the Majority of Homeowners From Taking Action

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EDITOR’S NOTE: Evil prospers when good people do nothing. The good people here are the victims of this massive securitization bank fraud where tens of millions of taxpayers and pensioners have lost trillions of dollars to the scheme and where homeowners are losing like amounts as the Banks and servicers, with no skin in the game, are pursuing a plan that will make them the largest property owners in the world without a nickle of their own money. Your country needs you now to stand up for your rights and the rights of other Americans.

This story is from the homeowner perspective. Approximately 96% of all homeowners who receive a notice of default simply leave their keys in the kitchen and abandon their home. They do it because they know they “missed” a payment but they don’t know the payment wasn’t due and certainly wouldn’t be due to the company claiming it. They do it because they are depressed, beaten and paralyzed by shame, guilt and fear.

So they don’t educate themselves about their rights and even if they do they can’t get past the thought that if they get to keep the home they are somehow cheating the system. This prevailing thought which is pervasive throughout the judiciary, the legislative branch of government and the executive branch is the single-most important factor in the success of the Banks in taking homes they don’t own, or have any right to own.

It is a shame that the associations of psychiatrists, psychologists, social workers and other psychotherapists have not intervened at least to prevent suicides. But more than that, they and everyone else who comes into contact with financially distressed people should be reminding them that there are resources that can help them stay in their home — for months years or even permanently.

My observation is that when people go into action against the banks they succeed to some measure, but more importantly they feel empowered again and they drop the attributes of depression, anxiety, fear and paralysis. We are all Americans and we all have a stake in seeing to it that this blight on our society is removed and that the human spirit, the American spirit is reinvigorated so that we come out of this better than we were before. It must be that way or we face a permanent decline in our prospects, our lives, our marriages, and our children’s lives.

Overcome mental roadblocks that lead to foreclosure

Mood of the Market

By Tara-Nicholle Nelson, Tuesday, November 15, 2011.

Inman News™

There are several government reports out now stating that most homeowners who lose their home to foreclosure never contact the bank to determine whether they can work something out with them, despite the ubiquitous government, bank and media education campaigns encouraging them to do just that.

While I’d wager that a small portion of this number are strategic defaulters who plan to walk away from the home in any event because of its deep negative equity, the vast majority are folks who have lost a job, seen their business income decline during the recession and/or had their payment adjust steeply upward sometime over the past couple of years, and have simply fallen behind on the payments.

Simply ignoring the bank’s calls and letters does not just get a distressed homeowner out of a hard conversation or two; the ultimate results of this plan of inaction include losing the property to foreclosure and bank repossession, including eviction and having to find another place to live.

Could those things happen anyway, even if you do reach out to the bank? Absolutely. But there are still millions of homeowners every year who are able to save their homes, under a bank or government loan modification or refinance program, or even amicably agree to a less traumatic surrender of the property than foreclosure, by short-selling the property or negotiating a deed-in-lieu of foreclosure.

Tags: anxiety, bankruptcy, borrower, countrywide, depression, disclosure, financial distress, foreclosure, foreclosure defense, foreclosure offense, foreclosures, fraud, LOAN MODIFICATION, modification, paralysis, quiet title, rescission, RESPA, securitization, TILA audit, trustee, WEISBAND
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