Foreclosures, Mortgages and Morals
Anytime you begin a conversation about morals, things can get pretty heated. The biggest issue when discussing morals is that it really comes down to personal morals. Society has its own common moral guidelines, but those tend to move with the ebb and flow of the culture.
Today, in the crux of the economic crisis that many Americans find themselves in, morals have definitely shifted – especially when it comes to home foreclosures. The first thing is that “everybody is doing it” – right? Acceptance for lower morals has caused a moral decline, and much of it is understandable.
Unethical lending practices combined with greedy appraisers and look the other way banking institutions all lead by a “print more money” governmental philosophy have taken their toll on the morals of today’s homeowner.
Our grandparents would have done anything possible to avoid the stigma of foreclosure. But today, foreclosure just doesn’t carry the same stigma it once did – it is so commonplace that it is acceptable. In fact, it is so common place that some homeowners are even holding the bank hostage by trashing their properties – forcing the banks to pay them bribe money just to turn over their house in good condition.
But who is really at fault for all of this?
Why should today’s homeowner who cannot possible make the mortgage payment that has skyrocketed on an adjustable rate mortgage that he or she had no business getting in the first place and for an inflated home value take on all of the moral responsibility? This dilemma, like most moral dilemmas, raises more questions than it answers.
About Moe Bedard
If this article was written by someone other than Moe Bedard, I would be steaming right now. I do not believe that morality is at risk because of the number of foreclosures. I do believe that although the foreclosure rate is high, most people have struggled to reach a place in their hearts that makes it as okay as they can make it. The immorality lies in the rape of the American Homeowner by Wall Street. It lies in the sure death of the middle class at the hands of a small group of people with power and influence who have used a carrot and stick approach to creating this unbelievably threatening environment. If there is immorality on the part of the middle class, it was in allowing ourselves to get caught up in an environment where material things were a sign of self-worth. It is heartbreaking and heartwrenching to make the paradigm shift back to only buying what you need and being okay with the concept of having to go into foreclosure if the choice is paying for your mortgage or feeding your children. That is a moral choice.
Thanks for the comment Barbara.
I am starting to do just some basic reporting and fact articles as opposed to spinning them based on my opinion. This approach is one that I must do to sometimes in order to balance this blog and provide unbiased facts.
What most people are not aware of is that some of these so-called morals are inbetted in our phycies via propaganda from our TV’s and schools. Not by our families or natural born instincts.
I believe that we all must find way to do what is right for our families first and in the same token, the greater good of humanity.