Old 08-25-2009, 01:43 PM   #1 (permalink)
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Unhappy Foreclosures Subprime Mental Health

They ought to start doing mental health screens on the folks who (successfully) walked, short sold or successfully clobbered their lender in some way and are back to living their real lives again. No depression there, I'm sure. Can you imagine just how much money, energy, creativity, productivity, and health has been sucked out of Americans through all this? Just in time to mandate us all to some bogus health care plan that will be no better than what is in place now and where the health insurance magnates are expected to make a financial killing . So, keep eating your Wheaties, to keep your health up.


FORECLOSURES MAKE FOR SUBPRIME MENTAL HEALTH

-- Renae Merle WASHINGTON POST


Tuesday, August 25, 2009

It's official: The economy is bad for your health.

Researchers at the University of Pennsylvania School of Medicine questioned 250 homeowners going through foreclosure in Philadelphia and found that 47 percent showed symptoms of depression, with 37 percent exhibiting signs of major depression. The rate was especially high considering previous research showed that only about 12.8 percent of people living in poverty were depressed, the study found.

"Although the health status of homeowners has traditionally tended to be better than that of renters, the financial and emotional stress of foreclosure may undermine the potential benefits of homeownership," said the study, which will appear in the October edition of the American Journal of Public Health.

The researchers found deep attachment to homes. "There is a sense of hope when people buy their homes," said Craig Evan Pollack, an internist who recently completed a fellowship at Penn's medical school and is now an associate scientist at Rand Corp. "The difference between those dreams and hopes and [the] reality that people are finding themselves in may be part of the stress that people are feeling, and a sense of sadness as well."

Borrowers facing foreclosure were more likely to forgo filling prescriptions, and nearly 60 percent reported that they had skipped or delayed meals, according to the study. "We've barely begun to think about the health consequences of the foreclosure crisis," Pollack said.

And it's likely to get worse. Nearly 2 million homeowners are expected to lose their homes to foreclosure this year, according to some economists.
"It's surprising to me that the rates of depression aren't even higher," said John Taylor, president of the National Community Reinvestment Coalition, a nonprofit group. "All aspects of their life are just disrupted. They lose their center."


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Old 08-25-2009, 03:11 PM   #2 (permalink)
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Re: Foreclosures Subprime Mental Health

This is so true...
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Old 08-25-2009, 04:05 PM   #3 (permalink)
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Re: Foreclosures Subprime Mental Health

As usual IG you post the most awesome articles. Thank you Sadly I like many others had no idea how far down I could go when I missed my first adjusted payment or for how long. I think it was about three months before the depression started to lift. The waiting for approval before it adjusted had my nerves beyond shot. Wake up, cry in the shower, vomit, spin out of control all day waiting for the phone to ring and vomit. Oh and the stress it put on my marriage was another factor that could have torn my family completely apart. What started out full of dreams became such a nightmare to wake up to every single day. Hope and belief my lender was working with me turned into me feeling like all my hard work, time and effort left me feeling like when I looked in the mirror I only saw a stupid loser. True or not it sure felt that way. I hated having so many dark thoughts when I kept trying to tell myself it is just a house, but my heart and hard work was put into it for my family. Thank God I found this site that helped see me through that period of my life. That was last November. Still waiting for my loan servicer to get on board with actually doing modifications instead of foreclosures. The good news is I don't hold my breath anymore. No more expecting anything from them. All those months of lies, stall tactics and false hope taught me one thing. I will never allow them to play me again. Sorry for going on and on when I wanted to say a simple thank you IG. Your a great friend, glad to know you, Catherine
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Old 08-25-2009, 06:25 PM   #4 (permalink)
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Re: Foreclosures Subprime Mental Health

Quote:
Originally Posted by Catherine View Post
As usual IG you post the most awesome articles. Thank you Sadly I like many others had no idea how far down I could go when I missed my first adjusted payment or for how long. I think it was about three months before the depression started to lift. The waiting for approval before it adjusted had my nerves beyond shot. Wake up, cry in the shower, vomit, spin out of control all day waiting for the phone to ring and vomit. Oh and the stress it put on my marriage was another factor that could have torn my family completely apart. What started out full of dreams became such a nightmare to wake up to every single day. Hope and belief my lender was working with me turned into me feeling like all my hard work, time and effort left me feeling like when I looked in the mirror I only saw a stupid loser. True or not it sure felt that way. I hated having so many dark thoughts when I kept trying to tell myself it is just a house, but my heart and hard work was put into it for my family. Thank God I found this site that helped see me through that period of my life. That was last November. Still waiting for my loan servicer to get on board with actually doing modifications instead of foreclosures. The good news is I don't hold my breath anymore. No more expecting anything from them. All those months of lies, stall tactics and false hope taught me one thing. I will never allow them to play me again. Sorry for going on and on when I wanted to say a simple thank you IG. Your a great friend, glad to know you, Catherine
Ooooohhhhhhh Catherine!

You're one of my fav peeps here, so glad you liked. Keep up the good fight, darling .
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Old 08-25-2009, 08:33 PM   #5 (permalink)
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Re: Foreclosures Subprime Mental Health

Oh IG, this is perfect! Sooooo true. We are living proof of it. It really is a post traumatic stress syndrome.
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Old 08-26-2009, 08:27 AM   #6 (permalink)
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Re: Foreclosures Subprime Mental Health

FYI: Shares of FANNIE MAE and FREDDIE MAC SOAR, Puzzling Analysts

On Monday, shares of Government controlled mortgage lenders Fannie MAE (41.7% increase) and Freddie MAC (18.5%) soared attracting attention of investors and stock traders.

Shares of other financial companies have also increased dramatically in the recent weeks.

There was no news involving either company that could have explained the increases.

If you google this, you will find full articles about this in all the major newspapers. Do you think they know something the general public doesnt know? Should we all be buying stock in these lenders instead of trying to make our trial mod payments to them?
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