The Context Machine

It does not appear that the number of home foreclosure listings will decrease any time soon. In fact, real estate experts expect the number to continue to increase as the adjustable rate mortgages (ARM) blooms. The homeowner’s mortgage payment will nearly double, creating a serious budget crisis for this person. Food and fuel prices have skyrocketed and if a person can barely make their mortgage payment now, what will he or she do when the payment increases? Chances are, they will loose their home, unless they are able to get out of the ARM and into a fixed rate mortgage.

A lot of the nation’s politicians are looking for ways to reduce the number of home foreclosure listings in their respective states. The foreclosure rate has become a national crisis, where homes in Florida, California, Georgia and many other states are being added each month. It is not unreasonable or surprising that politicians would get involved. Many voters are also homeowners who will not re-elect someone who sits idly by and has no concern for their plight. The foreclosure crisis not only affects the homeowner facing the threat of loosing their home, but also other homeowners who watch their property value decrease as a result.