Don't Wait for a Gov't Bailout

Earlier today I listened to President Bush discuss the housing situation as he addressed the nation (and the world). He did not feel that a widespread bailout was the answer to stemming the tide of foreclosures. To him, government intervention on that scale would hurt rather than help.

Whether you agree or not, the message is clear: if you are worried about foreclosure, you cannot count on the government stepping in to save you. Yes, the government is looking at how it can assist homeowners and deciding which course of action is best, but you cannot wait on them.

It is in your best interest to contact your lender or a trustworthy real estate agent now if you feel you are in danger of losing your home. They can help you decided what is the best way to proceed.

If you have been ignoring mail pertaining to your property, please open it. There is likely important information in your mail. If you have been notified of changes in your mortgage rates or been given information that affects the ownership of your home, then your lender has done their part. It is up to you to take action.