Topic > Foreclosure Crisis - Proposed Plan to Stabilize and...

Thomas Jefferson once stated, "If Americans would ever allow the banks to control the issue of their currency, first through inflation and then through deflation, the banks would deprive people of all property until their children wake up homeless." While Jefferson's accusation seems ridiculous at first glance, today's foreclosure crisis lends itself well to such resonant words. The current disarray of the U.S. economy and housing market is terrifying. With banks going bankrupt and fewer Americans able to pay their mortgages, the question must be asked: How will we ever survive this foreclosure crisis in America? Right now we need an economic plan that first stabilizes, then increases the real estate economy. . Stabilization is key. Without a decent foundation, any plan is doomed to fail. To stabilize the housing market, the United States must first address the problem of citizens at risk of losing their homes. Citizens who meet several criteria will be allowed to "occupy" their property for one year. Section one of the Fourteenth Amendment to the United States Constitution supports this statement: All persons born or naturalized in the United States, and subject to the jurisdiction thereof, are citizens of the United States, and of the State in which they reside. No State shall make or enforce any law abridging the privileges or immunities of citizens of the United States; nor shall any State deprive any person of life, liberty, or property without due process of law; nor deny to any person within its jurisdiction the equal protection of the laws. The third clause of the first section deals with deprivation of life, liberty or property without due process. When... half the newspaper... openly reported that a couple, the Donacas, were driven to suicide. According to some authorities, the suicides have been linked to the emotional duress of a pending foreclosure. Suicide is radical, but the emotional effects of foreclosure are not exaggerated. Frantic calls wanting to talk about financial concerns are up a staggering 20% ​​for ComPsych.America can't afford millions in foreclosures. Many citizens don't see an end to the foreclosure crisis coming anytime soon. As a student about to enter the real world, I know I am very afraid of not being able to afford a house. I see my parents and siblings struggling to make their mortgage payments every month and I would do anything to make this stop. If this foreclosure crisis continues, America could end up just as former President Jefferson promised, with America's children homeless.